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LUKOIL and Tatarstan develop cooperation

In the short and long term, Tatarstan will remain a promising raw material base for Russian fuel industry. Since the beginning of industrial development of the oilfields, cumulative production has amounted to 3.4 billion tonnes [24.9 billion barrels]

LUKOIL and Tatarstan develop cooperation

Source: Tatarstan President's Press Office

Moscow, October 13 - Neftegaz.RU. Vagit Alekperov, President of LUKOIL, and Rustam Minnikhanov, President of Tatarstan, signed a cooperation agreement today.
The parties intend to jointly develop upstream and downstream projects, production infrastructure, and public amenities.

The agreement aims at increasing the efficiency of Tatarstan fuel and energy complex, improving investment environment in the region, expanding its mineral resources base, promoting stability and environmental improvement.

LUKOIL, as ever, puts a premium on the social development of the region.
Under the previous cooperation agreement, concluded by the company and Tatarstan government in June 2010, LUKOIL took an active part in the revival and development of the region's spiritual culture, as well as restoration of world-famous relics.

The company began to work in Tatarstan in 1995.
Currently the company operates in 13 municipal districts of the Republic and develops 23 oil fields.

In 2014 LUKOIL passed the milestone of 1 million tons of the annual oil output in the Republic of Tatarstan.
On top of that, the company develops petroleum product marketing in the region.

In terms of innovations, LUKOIL is involved in a series of field tests of the water-alternating-gas technology.
In 2013, the company signed an agreement with the Kazan Federal University on cooperation in advanced oil recovery method development.

To read the news in Russian

Source : Neftegaz.RU


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