Lavrov calls to coordinate Russian, US military action in SyriaRussian Politics & Diplomacy September 22, 21:05
Lavrov blames Obama administration for souring Russia-US tiesRussian Politics & Diplomacy September 22, 20:41
Waging war on Korean Peninsula inadmissible, says LavrovRussian Politics & Diplomacy September 22, 20:36
Russian Northern Fleet completes drills in ArcticMilitary & Defense September 22, 18:01
OPEC and non-OPEC countries to continue talks on oil production cut dealBusiness & Economy September 22, 17:28
Russian pair figure skaters Kavaguti, Smirnov retire from sportSport September 22, 16:48
Record number of delegations register for St. Petersburg-hosted IPU AssemblyRussian Politics & Diplomacy September 22, 16:47
Astronauts to make quickest trip ever to ISS in DecemberScience & Space September 22, 16:27
Russian frigate Admiral Essen returns to Crimea after mission in MediterraneanMilitary & Defense September 22, 16:24
LONDON, March 8 (Itar-Tass) – Russia’s oil company LUKOIL has four regions of growth in the next decade, which include Central Asia and West Africa, the company’s CEO Vagit Alekperov said at a meeting with investors in London on Thursday, March 7.
He said LUKOIL is interested to acquire new oil and gas production assets in Iraq and integrate them into the infrastructure that has already been created in that country.
Alekperov believes that LUKOIL can discover large oil and gas deposits in West Africa where the company is conducting exploration work.
LUKOIL also has “a unique project – North Caspian, where we have already discovered almost 7 billion barrels of recoverable oil and gas,” Alekperov said, adding that the company also has deposits in the Timano-Pechora region.
“Outside the Russian Federation we have focused on exploration in West Africa. We keep our presence in Sierra Leone, Cote d’Ivoire and Ghana,” he said.
“On the whole, we are quite optimistic about oil and gas prospects in West Africa where large oil and gas deposits can be discovered,” Alekperov noted.
“We have large reserves in Central Asia and we are considering projects in Kyrgyzstan. We have a large investment project in Uzbekistan. We are planning to commission three more deposits there in the next three years to bring gas production to 15-16 billion cubic metres by 2016. There is established infrastructure there that allows us to supply gas to both Russia and China,” he said.
Alekeprov said LUKOIL has one project in Venezuela, within a consortium of Russian companies in that country. “It was signed at the interstate level and I do not think that Hugo Chavez’s death will affect its implementation,” he said.