Lukoil completes payment for Imilor deposit development
MOSCOW. Nov 26 (Interfax) - Russian oil major Lukoil has during January-October completed the second 50% payment, of $835 million, for the rights to develop the subsoil resource section that includes the Imilorskoye, West-Imilorskoye, and Istochnoye deposits in Western Siberia, the company's us gap report says.
The first 50% payment was made last December.
Lukoil subsidiary LLC Lukoil-Western Siberia acquired the rights to this strategic field at an auction late last year, bidding 50.8 billion rubles. Rosneft and Gazprom Neft subsidiary Gazpromneft-Noyabrskneftegaz also bid at the auction.
As of January 1, 2011, reserves in the three deposits amounted to: C1 geological - 287.372 million tonnes and C2 - 568.087 million tonnes, and C1 recoverable 66.278 million tonnes and C2 - 127.404 million tonnes.
Lukoil will be investing 28-32 billion rubles in the Imilorskoye deposit before the end of 2015. Production drilling is slated to begin next September. The plan is for the first oil to be obtained in March the following year.