LUKoil to invest $ 1.3 bn in Russia's Trebs and Titov fields

Jan 23, 2012 12:00 AM

Russia’s largest private oil firm LUKoil plans to invest $ 1.3 bn into the giant Trebs and Titov oil fields by 2022, Vice President Leonid Fedun said.
The amount of LUKoil’s investments will correspond to its 25.1 % share in the project, Fedun told.

He said that the Trebs and Titov partners have already agreed to the terms and investment volumes of the project, which will be announced later in a joint conference.
“The income from this project will be higher than average in Russia,” Fedun added.

The recoverable reserves of the Trebs field are estimated at 82,469 mm tons of oil, while the recoverable reserves of the Titov field are estimated at 57,590 mm tons of oil under C1 and C2 categories.

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