LUKOIL Monday, December 21, 2020
President of LUKOIL Vagit Alekperov and Chairman of the Management Committee of Gazprom Alexey Miller signed the Master Agreement on the Terms of the Development of Vaneyvisskoye and Layavozhskoye fields (located in the Nenets region, Russia) today.
Governor of the Nenets Autonomous District Yuri Bezdudny also took part in the signing ceremony.
This document builds on the earlier agreement, which had been concluded in 2018 at the St. Petersburg International Economic Forum, and elaborates on the necessary arrangements to commence hydrocarbon production at the fields.
Among other matters, the parties decided on the course for creating a joint venture to carry out the project. It will be established by LUKOIL and Gazprom subsidiaries: LUKOIL-Komi and Gazprom Dobycha Krasnodar. This special-purpose entity will receive the licence to develop the fields.
At the preparatory stage, the joint venture will focus in particular on the design and survey work, put together documentation for the construction of field facilities and necessary infrastructure for hydrocarbon treatment and transport to LUKOIL's oil receiving facility and an entry point to Gazprom's gas transportation system. The venture will also determine prospective contractors and equipment suppliers, and make suggestions with respect to the contracting strategy and ways to fund the project.
The fields are located in the immediate vicinity of LUKOIL's operational production site. Thus, realization of the project will result in a synergy and require only a minimum of infrastructure to be created.
Gazprom is a current holder of a subsoil use license to explore and produce hydrocarbons in the area of federal significance that includes Vaneyvisskoye and Layavozhskoye fields located in the Nenets region, Russia, eastward of the city of Naryan-Mar.
Vaneyvisskoye and Layavozhskoye fields have cumulative recoverable resources of 27.4 million tonnes of liquid hydrocarbons and 225.3 billion cubic meters of natural gas.
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LUKOIL started test production at three oil fields of the Komandirshorskaya Group - Komandirshorskoye, North Komandirshorskoye and West Komandirshorskoye - in the Nenets Autonomous District. The initial recoverable reserves of the three fields are estimated at 11 million tons.
Vagit Alekperov, President of LUKOIL, and Aleksey Miller, Chairman of the Gazprom Management Committee, held a meeting today in Moscow.
President of LUKOIL Vagit Alekperov and Chairman of the Management Committee of Gazprom Alexey Miller discussed bilateral cooperation at a meeting. For instance, the parties touched upon the development of Vaneyvisskoye and Layavozhskoye fields in the Nenets Autonomous District, Russia.
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OAO Lukoil published this content on 21 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2020 12:54:02 UTC
