PJSC LUKOIL and PJSC Gazprom Neft via its subsidiary Meretoyakhaneftegaz will jointly develop an oil and gas cluster in the Nadym-Pur-Tazovsky area of Russia’s Yamal-Nenets Autonomous District.
The new cluster’s aggregate geological reserves amount to more than 1 billion tons of oil and about 500 bcm of gas. A significant part of the reserves is located within the Achimov formation and are categorized as hard-to-recover reserves.
The cluster will be centered in the Tazovskoye oil and gas condensate field which geological reserves make it one of the biggest in Western Siberia, with 419 million tons of oil and 225 bcm of gas. The peak annual production volume of the field is expected to reach 1.7 million tons of oil and 8 bcm of gas.
The JV will develop Severo-Samburgskoye and Meretoyakhinskoye fields, as well as two Zapadno-Yubileiny license blocks.
