Lukoil Makes New Discovery in Komi

Lukoil Overseas has discovered a new oil field in Russia's constituent republic of Komi. The new field has been named Severo-Niyedzyusk. Development work is being carried out by Baitek-Silur company, a subsidiary of Lukoil-Perm, which is Lukoil's regional arm in the Perm Region of Russia. Oil reserves at the Severo-Niyedzyusk are estimated at 4.1 million tons. A recent appraisal well yielded 120 tons of oil per day. Plans are currently being considered for a transportation and pipeline infrastructure for the field.