The document was signed by Vagit Alekperov, President of LUKOIL, and Alexander Dyukov, CEO of Gazprom Neft, in presence of Alexey Miller, Gazprom´s CEO.
- Our job is to bring hydrocarbon reserves - with complex geology in the Polar Circle - into development effectively
- Our 2 companies joining forces will mean we can bring the very best technical solutions to bear here
- I should also highlight that establishing this JV will support the further development the Gazprom’s strategic partnership with LUKOIL
The venture is also to develop the Severo-Samburgskoye and Meretoyakhinskoye fields, as well as 2 Zapadno-Yubileiny license blocks.
Total reserves initially in place at this new cluster stand at over a billion tonnes of oil and about 500 bcm of gas.
V. Alekperov, commented:
- The company is interested in increasing its investment both into upstream and downstream projects in Russia
- We are actively developing new fields in West Siberia, Timan-Pechora, the Caspian and Baltic Seas, as well as in other Russian regions
- We also keep implementing selective deep conversion projects at our refineries in Russia
- Gazprom and Gazprom Neft has been our strategic partners for many years
- Together, we can combine the best Russian technologies to develop this new massive hydrocarbon cluster in the region we consider strategic – the Yamal-Nenets region
- Developing those fields covered by our JV with LUKOIL is a critical task – for our entire industry
- This jJV, bringing together our financial and technological resources, will see us working on developing hard-to-recover reserves, including producing oil from Achimovsky strata
- This, in turn, will create new jobs – and extra tax revenues – at every level, as well as facilitating further technological development, for both our company and the entire wider ecosystem of contractors and equipment producers