Lukoil is going to start geological exploration at undeveloped field in Yakutia
Lukoil is going to start geological exploration at an undeveloped field at the Yakutia coast, V. Alekperov told to the President Putin at their meeting in Novo-Ogaryovo. The main topic of their discussion is geological exploration. The point is that Lukoil, that has lost to Rosneft and Gazprom in the fight for the continental shelf is going to find an alternative. It seems that Mr. Putin has appreciated unresting activity of Lukoil. His meeting with Mr. Alekperov is a sign of the right way chosen by Lukoil.
Putin: we constantly return to one and the same point at the latest Commission for fuel and energy sector and other actions. This point is geological exploration. You as an oil producer experienced since the Soviet Era understand how important is the growth in reserves and yield. Your company puts much attention to the point. What’s your opinion about the state of affairs in this direction in the sector?
Alekperov: Our state possess a large reserves potential. We’re eager to start geological exploration. After your admission, we’d rather started detailed working out with the Ministry of Natural Resources, in order to start forming of infrastructure there.
First of all, they are going to construct an oil terminal like Varandey, the terminal of Lukoil in Nenets autonomous area. Mr. Alekperov thinks that drilling of one well will cost at least $200 million. He says that the region is a ‘backwater district’ located in 900 km to all cities and means of communication. Lukoil chose it having found ‘ a region with a gap’.
Lukoil also discussed the opportunities for the work in the territorial water area. For example, the Hatanga Gulf is not a part of the continental shelf formally, that’s why Lukoil could start oil production at offshore deposits if it observes good will.
Mr. Putin reminded to Mr. Alekperov that the company has already obtained the Trebs and Titov deposits. Mr. Alekperov answers that they are launched in 2013. The budget is 143 billion rubles because its launch was quickened.
Translated by Nadezhda Poltoratskaya
