Tag Archives: Lukoil

Lukoil Buys Shah Deniz Stake for $2.25B

Lukoil has concluded a deal for acquiring 15.5 percent interest in the Shah Deniz gas project in the Caspian Sea from Malaysian giant Petronas. Russian oil and gas company Lukoil has concluded a deal for acquiring 15.5 percent interest in the Shah Deniz gas project in the Azerbaijan part of …

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Lukoil to Acquire Caspian Sea Interest from BP

PJSC Lukoil agreed to acquire a 25% participating interest in the Shallow Water Absheron Peninsula (SWAP) exploration project in the Azerbaijan sector of the Caspian Sea from bp. The SWAP project area, south of the Absheron peninsula, lies in water depths up to 40 m. In 2016, a 3D seismic …

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Russian Oil Company Starts New Oil Drilling in Mexico

Russian oil company Lukoil on Monday announced that it has started drilling the first exploration well at Block 12, in Mexico, at a depth of 207 meters. ‘After drilling, the geological and geophysical data will be analyzed to make a decision on further exploration at Block 12,’ the company stated …

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Russia’s Lukoil Plans Iraq Oil Output Boost

Lukoil PJSC is seeking to develop new oilfield projects in Iraq even as slumping crude prices and OPEC+ supply cuts have compelled the company to slash production in the country. Russia’s second-biggest oil producer pumped 400,000 barrels a day last year at its West Qurna 2 project in southern Iraq, …

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