Northern Russia will be a key priority for the privately own company in the period 2014-2016. A total of $2 billion is to be invested in field development in the Timan-Pechora province in the period, company representatives told an audience of investors this week. Production is to increase by 30 percent, Vestifinance.ru reports.
Lukoil is a key company in the area, which includes the oil resources of the Komi Republic and the Nenets Autonomous Okrug. In 2008, the company opened its unique Varandey terminal on the Nenets coast, and this object is a strategically vital part of the company’s expansion plans in the area. The terminal is connected with pipelines linking up the major Yuzhno-Khilchuyu field. Several more fields are expected to get connected with this pipeline grid, thus enabling the company to boost out-shipments from Varandey.
As previously reported, the oil shipments from Varandey have over the past years dropped significantly following lower production at the Yuzhno-Khilchuyu.
According to company representatives, production in the Timan-Pechora Province will over the next two years increase from 280,000 to 350,000 barrels per day.
The total investment program of the company in the two-year period amounts to $51 billion, of which $18 billion is to be spent in foreign projects. Some of that money is likely to be spent in northern Norwegian waters, were the company is among the licenseholders in the 22nd Norwegian License Round.
Russia’s only aircraft carrier, the Northern Fleet’s “Admiral Kuznetsov”, has finished repairs and is ready to leave the port of Murmansk. According to a Russian news agency, the vessel will sail to Syria.
A century and a half ago, Norway was home to roughly three thousand brown bears, the majority of bears in all of Scandinavia. By 1930, the bears were virtually extinct. Decades of aggressive management tactics and bounties had wiped out one of the area’s most iconic species.
Microplastics, the tiny plastic particles that are accumulating in marine waters and big lakes around the world, are now showing up in the Arctic waters south and southwest of Svalbard, Norway, a new study says.
REYKJAVIK: The climatic changes taking place in the Arctic are a call to action for the world. We must answer with more international cooperation and more research, says Tore Hattrem, State Secretary of Norway’s Foreign Ministry.
“Partnership should and shall shape the development of the Arctic, therefore cooperation is the starting point for our Arctic policy,” Vladimir Barbin, Senior Arctic Official and representative to the Arctic Council, said at the Arctic Circle 2015 assembly.
August 9th, the Barents Region celebrated the UN International Day of the World’s Indigenous Peoples. The day was commemorated in several parts of the region, including Karasjok in Northern Norway and Teriberka in Northwestern Russia.
Norway’s Foreign Minister Børge Brende has asked Russia for an explanation to the high number of asylum seekers coming to Norway via Russia. Syrian refugees that have lived in Russia for a long time, will be stopped on the border and sent back.