Lukoil has finally been issued a license for development of East-Taymyr subsoil site

​Lukoil has finally been issued a license for the development of the East-Taymyr subsoil site in the Krasnoyarsk region.

The license was issued for Lukoil-West Siberia for 27 years.

The area of the site is 13,800 sq km.

As a result of the issue of the license for the East-Taymyr subsoil site, Lukoil has significantly increased hydrocarbons resources that in case of successful geological exploration works will open perspectives for oil and gas extraction in the new area of the Eastern Siberia, Rosnedra said.

On November 16th 2015 the Arbitration Court of Moscow proved Lukoil-West Siberia the legal winner o the tender.

On December 2nd the Minister of Natural Resources, S. Donskoi, said that Lukoil would be issued the license the following week.

According to experts, the onshore site is not that perspective for oil extraction.