The development of the “Vostochno-Tekinskoe” and “Yuzhno-Tedinskoe” fields will start immediately, Rosbaltnord.ru reports with reference to KomiOnline. The company in late September this year paid respectively 6 and 2,4 million RUB for the licenses. Lukoil this year together with U.S. partner ConocoPhillips opened the big Yuzhno-Khilchuyu field in the region. The two companies also officially opened the new Varandey port, both investments worth a total of up to 100 billion RUB. Last year, Lukoil-Komi produced 13,59 million tons of oil in the Timan-Pechora province, which was up 15,8 percent from 2006.
