Lukoil turns to Mediterranean

Published time: January 25, 2013 09:09
Edited time: January 25, 2013 13:09
AFP Photo / Mikhail Mordasov

Russia’s Lukoil is considering expanding operations to the Lebanon despite the ongoing civil war in neighboring Syria, and potential risks from regional politics.

­Lukoil already operates in West Africa and Romania, may become the first Russian company drilling in the Lebanon if it wins a tender to develop the Mediterranean shelf on February, 1. 

The firm plans to develop the project in the Lebanon as part of a consortium, the head of Lukoil, Vagit Alekperov told RT Business:

 “After the discoveries that were made in Israel and Cyprus, we consider the East Mediterranean a possible new oil-and-gas region. Lukoil is a big oil firm with experience of shelf development. We are now drilling in West Africa in 3 kilometer deep water; we developed deposits in the Baltic, Azov and Caspian seas, so we think we must participate in development of the new regions.”

The company is up against some tough international competition for the contract, including Chevron and Exxon Mobil from the US and France’s Total. It’s also competing against fellow Russian company Gazprom. 

You can find more details on the news in the RT Business bulletin at 2230 Moscow time.

Comments (5)

Living000 (unregistered) 27.01.2013 23:00

BS (unregistered) wrote in #2
Ben Sanderson (unregistered) wrote in #1
Sure RT. America and Britain goes drilling for oil, everyone says  No they cant " And when Russia does it, literally no  comments whatsoever . Sure. 
Big difference. The Russians aren't invading countries, killing innocent civilians, and overturning lawful elections to get what they want.
------- -------------------- -----------------Her e here, but these yanks think they are the rulers of the world and do not need to ask anyone, like a bully running around dictating, again, RUSSIA DOES NOT KILL PEOPLE FOR THEIR RESOURCES, THEY ASK.

0

Undo

A. Patriot (unregistered) 27.01.2013 20:18

Good! Apartheid Israel has been attempting to steal Oil and Gas fields off the Gaza Palestinian State coastline AND those in the Lebanese Waters.

Russi an warships would prevent Apartheid Israeli attempts to steal those natural resources and the Palestinian State should immediately file contracts with Russia's Lukoil to also work with it's Oil fields off the Gaza shoreline to prevent Apartheid Israel stealing those.

Russia n warships would also help prevent the routine Apartheid Israeli warships firing on unarmed Palestinian and Lebanese fishing vessels in those areas which has been routinely reported.

+1

Undo

birchwood (unregistered) 27.01.2013 16:28

Cyprus owes Russia, according to the news, a substantial amount of borrowed money..... With approval from the other associated Countries, has Lukoil considered using this owed money to buy a small area of land in Cyprus, to place a commercial work station in a safe area (guaranteeing it is never used militarily)?

+1

Undo

View all comments (5)
Add comment

By posting your comment, you agree to abide by our Posting rules

Log in to comment in full, or comment anonymously under character-limit restriction.

100 Text

– required fields

Register or

Name

Password

Show password

Register

or Register

Request a new password

Send

or Register

To complete a registration check
your Email:

or Register

A password has been sent to your email address

Edit profile

Name

New password

Retype new password

Current password

Save

Cancel

Follow us