Russia’s Lukoil receives 2 sites on shelf of Baltic Sea

MOSCOW, Apr 5 (PRIME) -- The Russian government has granted Lukoil-Kaliningradmorneft, a unit of oil major Lukoil, the right to exploit two subsoil sites on the shelf of the Baltic Sea, which include oil fields D29 and D41, as seen by PRIME on Tuesday in materials of the government’s Web site for disclosure of legal information.

Previously, Lukoil received a license for the D33 field in the sea.

Lukoil’s Vice President Ilya Mandrik said earlier that the company plans to invest 150 billion rubles in development of fields in the Baltic Sea until 2031, launch four new fields and drill 47 exploratory wells in the period. The company plans to reach maximum annual output of 2.15 million tonnes of oil at the fields in 2027.

(68.6753 rubles – U.S. $1)

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