Sector News

Lukoil launches oilfield in Russia's Yamal Arctic region

October 26, 2016
News

Russia’s No.2 oil producer Lukoil on Tuesday launched an oilfield in Yamal Arctic region in an effort to stem oil output falls in Russia where its deposits are being increasingly depleted.

Lukoil plans to produce 1.5 million tonnes (30,000 barrels per day) of oil and 3 billion cubic metres of natural gas in 2017 at the Pyakyakhinskoye oilfield, a top three hydrocarbon deposit launched in Yamal in recent years.

Pyakyakhinskoye is estimated by the company to contain 86 million tonnes of oil and gas condensate as well as 253 billion cubic metres of gas under Russian standards.

By Olesya Astakhova

Source: Reuters

comments closed

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Food & Drink

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

Send this to a friend