Astrakhan, August 28 - Neftegaz.RU. Head of the Astrakhan Region Igor Babushkin and President of LUKOIL Vagit Alekperov signed an agreement on cooperation for the next 5 years and discussed future projects to develop mineral resources, implement programs for generation of electric power and other initiatives, crucial for the social development of the region, in Astrakhan today.
LUKOIL is the region’s major investor. The company’s exploration effort in the Caspian Sea resulted in the discovery of 9 fields with total initial recoverable reserves amounting to around seven billion barrels of oil equivalent.
Having commenced production at 2 more oil and gas fields, LUKOIL is busy with construction of infrastructure facilities at a 3rd field, slated for startup in 2023.
