Energy Industry
Industry: Email Alert RSS FeedGAZPROM, LUKOIL AND TIOUMEN PLAN TO EXPLOIT SIBERIAN DEPOSIT
Europe Energy, March, 1998
The gas giant Gazprom and two Russian oil companies, Lukoil and Tioumen (TNK), are considering the creation of a consortium to jointly exploit a deposit in western Siberia. Tioumen already has an agreement in principle with Lukoil on the joint exploitation of the Severnoee field controlled by TNK.
Negotiations with Gazprom are continuing, TNK Vice Chairman Viktor Vekselberg told a press conference in Moscow. Reserves on the Severnoee deposit are estimated at 600 million tonnes of oil, and TNK hopes to attract significant investment from its partners to begin the exploitation of the field. Gazprom, the Russian gas monopoly, controls more than a quarter of global reserves of natural gas, while Lukoil, Russia's second oil company, has an annual output of 53 million...
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