Lukoil bags Baltic Sea block

Russia’s oil company Lukoil has been granted a right to use an offshore block in the Baltic Sea for the purpose of hydrocarbon exploration and production.

In accordance with Directive of the Russian Federation Government No. 246-r. of February 18, 2016, OOO LUKOIL-Kaliningradmorneft, a wholly-owned subsidiary of Lukoil, was granted the right to use a subsoil block of federal significance which includes the D33 oil field in the Baltic Sea for the purpose of hydrocarbon exploration and production.

The D33 field was discovered in 2015. An exploration well there was drilled from a Russian-made jack-up drilling rig.

According to Lukoil, the field contains recoverable oil reserves of 21.2 million tons

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