Lukoil, Gazprom Neft Team Up On Oil Recovery Projects
Russian oil and gas company Lukoil and compatriot oil producer Gazprom Neft have concluded an agreement on cooperation in the implementation of oil recovery enhancement projects.
Lukoil said that the agreement provides for joint work on improving chemical methods of enhanced oil recovery. It will lay the foundation for best practices exchange and collaboration in lab research, as well as for studies of surface-active agents and production stimulation chemicals.
According to the company, the duo plans to join their efforts to develop national production of chemical agents and equipment for manufacturing surfactant-polymer and polymer solutions for oil recovery enhancement. They also aim to test and introduce new chemical compounds when developing mature reserves in their fields.
Lukoil and Gazprom Neft will also evaluate prospects for the creation of competence centers that would apply innovative equipment to select surfactant and polymer formulae.
Lukoil recently entered into two other agreements. One in late September with BP for the acquisition of a 25 percent participating interest in the Shallow Water Absheron Peninsula (SWAP) exploration project in the Azerbaijan sector of the Caspian Sea.
The other was with Malaysian giant Petronas for the acquisition of a 15.5 percent interest in the Shah Deniz gas project in the Caspian Sea.
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