Looking for a specific product?

Make a search for products & suppliers, articles & news.

Lukoil teams up with Norway and Sweden in Arctic oil bid

Russia’s second largest oil company Lukoil will team up with the Norwegian companies North Energy and Det Norske and the Swedish company Lundin in the upcoming 22nd licensing round.

"In December, we will take part in the 22nd round to bidfor development of hydrocarbon blocks jointly with the two Norwegian companies Det norske and North Energy and the Swedish company Lundin," Andrey Kuzyayev, head of Lukoil Oversea says to Kommersant.

The tender, which closes on December 4th, includes 86 blocks, of which 72 are in the Barents Sea. 

He said that LUKoil would create separate alliances with each of the three companies to bid for the licenses and that it had set aside $300 million for possible Norwegian offshore investments between 2014 and 2016.

Lukoil in 2011 became the first Russian company to be prequalified for operations on the Norwegian shelf and subsequently opened an office in the country. A delegation of high-ranking Lukoil representatives earlier this week went to Oslo to meet with representatives of the Norwegian government and oil industry, as BarentsObserver reported.

The company, the biggest privately owned oil producer in Russia, has for years worked for the right to operate offshore fields in the Russian Arctic. Although a liberalization of the Russian regulations now might be in the pipeline, Lukoil is still kept out of the list of eligible shelf operators. Only state-controlled companies with a minimum of five years of offshore experience are allowed to engage on the shelf, a regulation which gives Rosneft and Gazprom a monopoly position.

Related news

Latest news

Hatteland Display Releases New Large Format 4K Screen

Hatteland Display Releases New Large Format 4K Screen for ECDIS and Bridge System Applications. The new 32” Ultra High Definition model enables multi-application data to be viewed clearly from a single operator station.

Deck Equipment Contract for Palfinger Marine

PALFINGER MARINE has signed a contract with Simek in Norway to deliver the complete winch package onboard their newbuilding 134, a longliner vessel.

New contract: Windcat 41 - no 17 in the Servogear series

Servogear announces the signing of a new contract with Windcat Workboats BV for the delivery of Servogear Controllable Pitch Propellers (CPP)  for their new vessel Windcat 41. 

Seacat Enterprise to be launched January 12th

Seacat Services, is preparing to launch its first High Speed Utility Vessel (HSUV), Seacat Enterprise at January 12th.

57 million NOK for innovation to combat poverty

Brunvoll acquires Scana Propulsion

Brunvoll AS has signed an agreement with Incus Investor ASA to acquire all the shares in Scana Propulsion AS, including subsidiaries Scana Volda AS and Scana Mar-El AS in Norway and three sales companies located in the Uni...

Norsafe Signs Contract with the Swedish Coast Guard (KBV)

On Wednesday 21st December, Norsafe signed yet another new contract with the Swedish Coast Guard (KBV) to deliver nine new Magnum 750 MKII boats.

A Unique Second-generation Tomograph is Developed

A new gamma-ray tomograph designed to image up to 4” diameter pipes, is developed by CMR Prototech for the Saskatchewan Research Council (SRC) in Canada.

Sohome launches a new website

Sohome has launched a new website that makes it easier to find key information.