"Rosneft" allowed "Lukoil" to the shelf

The state company "Rosneft" signed an agreement on cooperation on the shelf with the private company Lukoil.

What kind of deposits will be discussed, the parties did not specify. Experts, however, doubt that Rosneft is looking for a replacement for the British BP, which is still its largest partner on the shelf, the BBC website reports.

“Lukoil” since 2004 has been working on the shelf of the Caspian Sea. However, in 2008, amendments were introduced into Russian legislation, according to which the deposits on the shelf are considered strategic and only state -owned companies with five years of experience have access to them.

It is impossible to find the equally rich reserves in the continental zone, so earlier the vice-president of Lukoil Leonid Fedun said that under this mode, the company will focus on investments abroad.

It was necessary to get an exit to a new Lukoil deposit. The company calculated that the existing base, that is, proven reserves, will only be enough for it for 19 years. Over the past year, the production of Lukoil has fallen by 2.3%.

However, while the American Conoccophillips was among Lukoil’s shareholders, the latter could not become a state -owned company’s partner to develop a shelf. In 2011, Conoccophillips completely left Lukoil.