Gazprom Neft, Lukoil join forces to develop Siberian fields
Russian oil and gas companies Gazprom, Gazprom Neft and Lukoil have teamed up to develop a major oil and gas cluster in the Yamalo-Nenets region of west Siberia, the companies said on September 17.
Gazprom Neft and Lukoil will form a 50:50 joint venture to develop fields surrounding the Tazovskoye deposit in the Nadym-Pur-Tazovsky district, which Gazprom Neft brought on stream in June. These fields include Severo-Samburgskoye and Meretoyakhinskoye, as well as the two Zapadno-Yubileiny licence areas. Combined, the assets are estimated to hold more than 1bn metric tons of oil and 500bn m3 of gas in initially in-place resources.
"Our job is to bring hydrocarbon reserves - with complex geology in the Polar Circle – into development effectively," Gazprom chairman Alexei Miller said in a statement. "Our two companies joining forces will mean we can bring the very best technical solutions to bear here.'
"Lukoil has always been putting a premium on homeland projects; we see great prospects for them," Lukoil head Vagit Alekperov added. "Together, we can combine the best Russian technologies to develop this new massive hydrocarbon cluster in the region we consider strategic – the Yamalo-Nenets region."
Gazprom Neft was previously hoping to partner with Shell to develop Tazovskoye and the fields surrounding it, but the Anglo-Dutch major withdrew from the plan in April last year, citing a "challenging external environment" created by the pandemic.