Gazprom and Lukoil to focus on preparing fields for development in Nenets Autonomous Region

MOSCOW. Feb 8 (Interfax) - The heads of Gazprom and Lukoil discussed the main areas for cooperation.

"During the working meeting, separate attention was given to the two companies' joint Layavozhneftegaz project," the companies' press services said.

"In the current year, the company is focused on priority work to prepare for the development of the Vaneivisskoye and Layavozhskoye fields in the Nenets Autonomous Okrug," the report says.

Relations between Lukoil and Gazprom are guided by the General Agreement on Strategic Partnership for 2014-2024. It provides for Lukoil supplying natural gas to the Gazprom transportation system, among other things. In 2020, Gazprom and LUKOIL signed a Master Agreement on the Terms of the Development of Vaneyvisskoye and Layavozhskoye fields. Gazprom has transferred to Layavozhneftegaz LLC its subsoil use license for the area that includes the fields.

Gazprom won the auction for the Layavozhskoye and Vaneyvisskoye fields back in 2016. Their total recoverable reserves are 27.4 million tonnes of liquid hydrocarbons and 225.3 billion cubic meter of natural gas. Gazprom estimates the annual production plateau at the fields at up to 10 billion cubic meters of gas per year. According to the Nenets Autonomous District administration, investments in the fields will amount to about 200 billion rubles.

The companies formed the JV on an equal footing.