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Lukoil may get new site on Baltic Sea shelf in 2017

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Lukoil may get new site on Baltic Sea shelf in 2017

Lukoil, one of Russia's major oil companies and one of the world largest producers of oil, may obtain the right to use “Nadezhda” federal land located on the Baltic Sea shelf.

This is what Kommersant newspaper reported, citing a letter from the head of the company, Vagit Alekperov. According to the document, Vagit Alekperov said that Lukoil would be able to develop the field “within the shortest possible time” and with “maximum efficiency”, taking into consideration the company's experience in the Baltic Sea.

In his opinion, the auction bidders should have registration in the Kaliningrad region of Russia, as well as experience of field development in the region.

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