Rus News Journal

LUKOIL will extract gas in Saudi Arabia

Today in capital of Saudi Arabia Ayr - Rijade, the president of Open Society LUKOIL Vahid Alakbarov and the minister of oil and mineral resources of Saudi Arabia Ali al - Naimi, have signed 40 - the summer contract on investigation and working out of gas fields and a gas condensate on the block And, located in the country centre, near to the world`s largest oil deposit of Gavar.
the Prospecting period makes 5 years. In this time LUKOIL will drill, at least, 9 prospecting chinks. The volume of expenses of LUKOIL on the prospecting program will make 215 million dollars
As has informed a press - Open Society service LUKOIL for project realisation the joint venture with the state oil company Saudi Aramco in which LUKOIL will posess 80 % of participation is created. The joint venture has received the name Ltd. LUKOIL Saudi Arabija Enerdzhi. (LUKSAR). In case of commercial opening of the hydrocarbons, the extracted gas will be delivered on home market of Saudi Arabia. Possibility of export of a gas condensate and wide fraction of easy hydrocarbons is thus provided.
at an exit on the planned volumes of extraction Saudi Aramco intend to construct on own means the pipeline from a craft to the nearest terminal of the main pipeline system of Saudi Arabia. Realisation of the project on behalf of Open Society LUKOIL will be engaged LUKOIL Oversiz - specialised branch on international upstream - to projects.
we will notice that in the near future the Audit Chamber of the Russian Federation plans to spend a number of scale checks of the leading Russian oil companies - both private, and state. As the head of Audit Chamber of the Russian Federation Sergey Stepashin has declared results of checks will promote the further streamlining of tax laws and revealing of additional reserves of receipt of incomes in budgets of all levels.
as it was informed that the Audit Chamber intends to estimate an optimality of level of the taxation of extraction of hydrocarbonic raw materials in the companies LUKOIL, YUKOS and Sibneft . Besides, S.Stepashin has noticed that the begun analysis of results of privatisation over the last 10 years is directed on revealing of the facts of the roughest infringements of the legislation of that time and attraction to them of attention of law enforcement bodies.
thus, he has underlined, for management of the industrial structures which are not supposing malicious infringements and strictly carrying out of the tax obligations before federal and local budgets, line under the uncertainty period will be brought, and business - community will definitively be convinced of irreversibility of results of privatisation.