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No acquisition of LUKOIL’s stake in National Oil Consortium - Gazprom Neft executive

Gazprom Neft, the oil arm of Russia’s energy giant Gazprom, is not discussing acquisition of LUKOIL's stake in the National Oil Consortium

© Konstantin Veremeichik

MOSCOW, February 05. /ITAR-TASS/. Gazprom Neft, the oil arm of Russia’s energy giant Gazprom, is not discussing acquisition of a stake of LUKOIL, Russia’s largest private oil company, in the National Oil Consortium, the company’s deputy chief executive officer Vadim Yakovlev told a news conference on Wednesday.

“We have not started a discussion, as we are happy with a 20 percent stake we own,” he said.

Russia’s National Oil Consortium owns a 40 percent stake in the joint venture with Venezuela’s state-owned oil and gas company Petroleos de Venezuela, S.A. that develops the Hunin-6 field, the oil reserves of which are estimated at 195 million tonnes. Investments into the project are estimated at $15 billion.

At the moment, Hunin-6 daily output totals 400 tonnes, Yakovlev said.

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