LUKOIL, Astrakhan agree joint Caspian program

Offshore staff

MOSCOW -- LUKOIL has signed a cooperation agreement with the government of the region of Astrakhan, southern Russia.

The two parties plan to collaborate on projects aimed at exploration, development and production of hydrocarbons in the region, including the Caspian offshore. 

The agreement also covers potential cooperation in manufacturing, repair and supply of oil field equipment; research and engineering to support new developments; and technologies for oil and gas production, hydrocarbon processing, and oil and gas pipeline construction. 

Other goals of the accord include ensuring environmental safety and efficient environmental management. 

LUKOIL will provide funding for construction of environmental and offshore production facilities. It will also help establish an integrated monitoring system for bio-resources located in the Astrakhan region, including satellite monitoring of the northern part of the Caspian Sea.


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