Lukoil discovers new hydrocarbon reserves in Caspian Sea

Caspian Sea by territorial waters

Lukoil‘s Nizhnevolzhsk¬†subsidiary this week announced that it had discovered new hydrocarbon reserves equivalent to 810m tons of coal in the Russian sector of the Caspian Sea. This brings the total of Russian offshore deposits to eight with combined reserves 1.6bn tons. Lukoil is planning to spend RUB22bn exploring and developing its Caspian Sea fields over the next three years.
Source: News.AZ