17 Dec 2015 16:34

Lukoil bids to explore in Norway's Grey Zone

MOSCOW. Dec 17 (Interfax) - Lukoil has filed an application to bid in Norway's Grey Zone, the company's president, Vagit Alekperov, told reporters.

"You know, the Norwegian government has certified us as a Class A operator. There are seven such companies," he said.

"We've applied for operatorship of several blocks and for two blocks as participant. This is an interesting zone, it is well-integrated with the Russian part, it's the same province. In other words it doesn't mean that if they don't let us in through front door we'll be sneaking in through the back," he said.

Alekperov said Norwegian law, which offers substantial compensation for exploration, makes projects like this attractive, he said.