Lukoil to drill for oil in Baltic Sea

Lukoil, Russia’s largest privately owned oil company, will drill for oil in the Russian sector Baltic Sea.

According to a statement on Wednesday, Lukoil’s subsidiary LUKOIL-Kaliningradmorneft has been granted exploration and production rights for an offshore block with includes D29 and D41 oil fields.

The fields were discovered in 2015. Lukoil used jack-up drilling rig “Arktichesksaya” of Gazprom Flot to drill the exploration wells.

According to Lukoil, recoverable oil reserves are estimated as 2.126 million tons at D29 field and 2 million tons at D41 field.