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Lukoil still seeking to develop Arctic offshore deposits

June 17, 9:31 UTC+3
Lukoil plans to apply for development of the Arctic offshore deposits, says the company's head
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© EPA/JAKUB KACZMARCZYK POLAND OUT

ST. PETERSBURG, June 17. /TASS/. Russia’s oil major Lukoil still plans to apply for development of the Arctic offshore deposits, President Vagit Alekperov said at the St. Petersburg International Economic Forum (SPIEF-2016) on Friday.

"Of course, I will be raising those questions," he said.

The Caspian region

According to the Lukoil chief, the company considers the Caspian region the most promising.

"I think the Caspian is the most promising," he said, adding that it also has "the highest priority" for Lukoil.

The oil market

 Alekperov said the oil market may face deficit within 2-3 years.

"I think that Igor I. (Sechin - TASS) is right. If investment goes down as fast as we’re witnessing today I think this (deficit) may happen within 2-3 years," he said.

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