Looking for a specific product?

Make a search for products & suppliers, articles & news.

Lukoil ready to invest $300 million in Arctic Norway

I have never before felt this feeling of neighbourhood, leader of Lukoil Overseas says about his company’s establishment in Norway.

In an interview with television channel Rossiya-24, Andrei Kuzaev underlines that Lukoil will be ready to invest up to $300 million in case the company wins tenders on the Norwegian shelf.

The company, a branch of Russia’s second biggest oil producer, is very open about its plans in Norway. “We have not come here for the participation in any tenders, we have a clear picture about where and what to do”, the company leader stressed.

 “Our goal is the grey zone, which will open in 2014-2015, these are the territories we are preparing for”, he underlined. The tenders, which will take place this year, are “only the beginning”, he added

As previously reported, Lukoil has teamed up with the companies DNO, Lundin and North Energy in its bid for Norwegian licenses. For the company, which currently is restricted from engaging on the Russian shelf, the engagement in Norway is seen as a gateway to Arctic operations.

Together with its three partners, Lukoil aims at participating in the upcoming 22nd lincensing round. The tender includes 86 blocks, of which 72 are in the Barents Sea.

Lukoil in 2011 prequalified for operations on the Norwegian shelf and subsequently opened an office in the country. Lukoil became the first Russian company prequalified for shelf activities in Norway.

Lukoil from before has offshore experiences from the Caspian Sea. It also has experiences from the Pechora Sea, where it in 2008 opened its unique Varandey terminal.

 

Associated companies:


Related news

Latest news

World's fastest ROV? - Project ROST

Traditionally, all cleaning has been carried out from a workboat,

New regional manager takes the helm in key oil and gas markets for DNV GL

Elaborating on the differences in the energy markets which now lie under his new responsibilities in DNV GL,

DNV GL launches certification framework and recommended practice for Carbon Capture and Storage (CCS)

The recommended practice DNVGL-RP-F104 Design and operation of carbon dioxide pipelines, 

DNV GL launches new JDP to test biodegradable lubricants

The test programme will investigate such aspects as hydrodynamic oil film formation,

ROV contracts in Brazil

The new contracts and contract extensions give 1 630 days of ROV services...

Steinsvik Secures a Contract for its First Concrete Barge

Steinsvik’s well-known steel barge design is now complemented by a new and innovative concrete barge design.

Searching for the best biological solutions

AKVA group’s biologists play a key role to ensure that the company’s technology not only meets fish welfare requirements, but also provides the best possible conditions for the fish.

Elisabeth Maråk Støle appointed managing director of Forskningsselskapet SørVest AS

Elisabeth Maråk Støle will take up her position on 1 April 2018 at the latest.

TIME SCALE

We are building chambers for tomatoes to grow in space. The aim is to give food to astronauts going to Mars.