LUKOIL IS GRANTED RIGHT TO USE SUBSOIL BLOCK OF FEDERAL SIGNIFICANCE IN BALTIC SEA

Saturday, February 20, 2016

In accordance with Directive of the Russian Federation Government No. 246-r. of 18 February 2016, OOO LUKOIL-Kaliningradmorneft (a wholly-owned subsidiary of PJSC LUKOIL) was granted the right to use a subsoil block of federal significance which includes the D33 oil field in the Baltic Sea for the purpose of hydrocarbon exploration and production.

The D33 field was discovered in 2015. An exploration well there was drilled from a Russian-made jack-up drilling rig.

The field contains recoverable oil reserves of 21.2 million tons.

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