With the launch of Western Kurna 2, Lukoil will become large participant of Chinese oil market
Edited by Rhod Mackenzie / 2013-10-14 02:46:48
Lukoil is going to become a large participant in the Chinese oil market with the launch of the Western Kurna 2 deposit in 2014, the chief of the company V. Alekperov says.
Western Kurna 2 discovered in 1973 with participation of the Soviet geologists, it is the world's second largest undeveloped deposit with extractable oil reserves of 14 billion barrels. The contract for the deposit development closed for 20 years with possible prolongation for 5 years was signed on January 31th 2010. Lukoil holds 75% in the project and North Oil Company holds 25%.
