From April 1, Lukoil may lose benefits for the Korchagin deposit

From the 1st of April, the largest Russian private oil company Lukoil may lose benefits for the Karchagin deposit in the Caspian region, the company’s Vice President, Gennady Fedotov reported at the National Oil and Gas Forum.

“This benefit (of the export duty on oil) underwent a detailed examination two years ago, but now we are said that it can’t be prolonged and will be suspended from April 1,” – he said, explained that it is tied in with the design of the comprehensive program of shelf development.

The Yuri Korchagin deposit is an oil and gas deposit in Russia. It is located in the north part of the Caspian Sea in 180 km from Astrakhan and 240 km from Makhachkala. The sea depth in this part is 11-13 meters. It was discovered in 2000. The 3P reserves make up 500 million barrels of oil equivalent.

As the Lukoil’s Vice President, Vladimir Mulyak announced last May, the expiration dates of the benefits of the export duty on oil for the Korchagin and Filanovsky oil and gas deposits in the North Caspian region, developed by Lukoil, are 2018 and 2021 respectively.

http://www.oilru.com/news/361192/

Translated by Svetlana Kyrzhaly