Lukoil agrees to exploration in Kalmykia


LUKOIL President Vagit Alekperov and the head of the Republic of Kalmykia signed a cooperation agreement in Elista. Vagit Alekperov, OAO LUKOIL President, and Aleksey Orlov, Head of the Republic of Kalmykia, signed a cooperation agreement between the company and the republic, in Elista today.

The agreement details cooperation between the parties to further develop and enhance efficiency of Kalmykia’s fuel-and-energy complex.

For its part, LUKOIL will take necessary measures to ensure implementation of the geological-exploration program at Tsekertinsk subsoil plot as part of its participation in ZAO KalmTatneft.

In addition, the company intends to create and register (for tax purposes) a separate business unit to implement a project aimed at construction and/or operation of head onshore facilities and an oil-and-gas pipeline transportation system from the North Caspian fields.

The government of the Republic of Kalmykia, as part of the existing legislation, will assist the company in obtaining timely approvals and permits from regulatory and inspection authorities for allotted land plots and ongoing projects, and in ensuring the best possible technical conditions to connect to external utility lines for the construction of production and technical facilities, pipelines, tank farms and filling stations.

In pursuit of its social responsibility commitments, the company will look into the opportunity to participate and implement a project aimed at restoring biological resources in the Republic of Kalmykia.

The agreement is valid from the day it is signed through December 31, 2018.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs