Interfax: Lukoil Proposes Financing Arctic Geological Surveys

MOSCOW - OAO Lukoil Holdings, Russia's second-largest oil producer, has proposed investing $2.7 billion in geological survey work on Russia's Arctic shelf, Interfax cited a company spokesman as saying Thursday.

The company sent applications to the government at the start of October expressing readiness to carry out surveys at four license sectors in the Laptev, East Siberian and Chukchi Seas, Intefax reported.

Under current legislation, only two state-controlled companies--OAO Rosneft and Gazprom--are allowed to own offshore licenses and other companies can enter projects as partners with them. Lukoil and other non-state companies have petitioned the government for access to offshore deposits.

The government is currently reworking its shelf-development program.

Copyright (c) 2012 Dow Jones & Company, Inc.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
US Kilgore, TX: Transportation Foreman
Expertise: Logistics Management
Location: Kilgore, TX
 
Landman
Expertise: Landman
Location: Houston, TX
 
Project Coordinator/Substation Construction Position
Expertise: Contracts Engineer
Location: Phoenix, AZ
 
search for more jobs

Brent Crude Oil : $50.64/BBL 0.62%
Light Crude Oil : $48.04/BBL 1.47%
Natural Gas : $3.01/MMBtu 2.58%
Updated in last 24 hours