LUKOIL GRANTED RIGHT TO USE SUBSOIL AREA OF FEDERAL IMPORTANCE IN THE BALTIC SEA
Wednesday, April 6, 2016
In accordance with Directive of the Russian Federation Government OOO “LUKOIL-Kaliningradmorneft” (a 100% subsidiary of PJSC “LUKOIL”) was granted the right to use a subsoil block of federal significance which includes D29 and D41oil fields located in the Baltic Sea for the purpose of hydrocarbon exploration and production.
The fields were discovered in 2015. Exploration wells were drilled with a jack-up drilling rig “Arktichesksaya” of OOO “Gazprom Flot”.
Recoverable oil reserves are estimated as 2.126 mln tons at D29 field and 2.003 mln tons at D41 field.
