Russian oil giant LUKoil?s subsidiary, Lukoil-Western Siberia, is likely to invest $300 million on the development of Bolshekhetskaya fields in the north of Russia in 2005.
It is planned that the construction of the start?up complex at Nakhodkinskoye gas field will be completed in April 2005. 40 production wells are to be drilled in the course of the next year. Total development costs there may reach $500 million.
Also, LUKoil will proceed with seismic prospecting at other three fields.
Exploration and hydrocarbon production at the Bolshekhetskaya depression area are conducted by two indigenous companies, Yamalneftegazdobycha and Nakhodkaneftegaz, the subsidiaries of Lukoil-Western Siberia.
Lukoil?s total investment in the development of oil and gas condensate fields in Yamalo-Nenetsky Region may reach $5 billion.
