Source Pravda.Ru

LUKoil planning to cut capital expenditures

The LUKoil oil company is planning to cut capital expenditures for thedevelopment of oil fields in the Timano-Pechersky basin by more than 40percent to $230m. General Director of the Arkhangelskgeologdobychaenterprise Alexey Barinov said. 74 percent of the company belongs toLUKoil. The decrease in capital expenditures became possible as the companyreceived a license from a local administration for the development ofnatural resources in this region, the official stressed. Some delay ingetting this license is due to risks that are natural in the process ofdeveloping new oil fields. The company has licenses for the development ofoil fields with 1.2bn barrels in total, which is equal to 8 percent of allLUKoil's oil resources. .

©

&to=http://www.lukoil.com' target=_blank>LUKoil

Comments
Russia unveils the date for the launch of the superbridge to Crimea
Pentagon can not accept Russia's victory over terrorists in Syria
Putin: Russian servicemen return home from Syria as victors
Russian athletes announce their decision about 2018 Winter Olympic Games
Serbia forgives USA for 1999 bombings, forgets all victims, holds joint drills with NATO
Why did Donald Trump recognise Jerusalem as the capital of Israel?
Why did Donald Trump recognise Jerusalem as the capital of Israel?
Why did Donald Trump recognise Jerusalem as the capital of Israel?
Why did Donald Trump recognise Jerusalem as the capital of Israel?
European Court of Human Rights: Promoting filth and insolence
European Court of Human Rights: Promoting filth and insolence
European Court of Human Rights: Promoting filth and insolence
Russia to install laser navigation system on the Moon
Projects of Nizhny Novgorod automotive industry receive financial support worth 1 billion rubles
Russian general says allegations of his involvement in MH17 crash are stupid
Russian general says allegations of his involvement in MH17 crash are stupid
Italy: Free fall
Human Rights Day: Let us hang our heads in shame
Italy: Free fall
Italy: Free fall
Russia to install laser navigation system on the Moon