Lukoil to finish onshore facilities, oil and gas pipelines in Kalmykia by 2016
ELISTA. Oct 5 (Interfax) - Lukoil plans to finish construction of the head onshore facilities and pipeline system for transportation of oil and gas from North Caspian fields in Kalmykia by the end of 2015, the republic's leader, Alexei Orlov said at a regional forum on the social and economic development of districts.
It was reported earlier that the Russian oil company might finish the project by September 2015. A postponement has not been announced.
"The activities of Lukoil in Kalmykia are a clear example of conducting socially responsible business," Orlov said.
He said the project will create more than 500 jobs and help develop a network of local suppliers and train personnel to support the operation of the facilities.
The project calls for construction of a pipeline system and onshore facilities to receive oil near the town of Komsomolsky in order to receive, store and transport 10 million tonnes of commercial oil per year.
Lukoil started the project in 2013 and has invested more than 11.1 billion rubles in it; taking into account exploration, the company has invested over 40 billion rubles.