The Russian Company ‘Lukoil’ will establish a company that will undertake exploration and production of non-associated gas in the Empty Quarter in cooperation with Saudi Aramco, the Minister of Petroleum and Mineral Resources, Eng Ali Al-Naimi, announced on Monday. The Saudi Aramco share in the new company will comprise 20% of the total capital.
Eng Al-Naimi noted that the Saudi government had invited various international oil companies to present tenders for exploration and production of non-associated gas in three areas of the Empty Quarter. Russian ‘Lukoil’ Company won the bid. The Russian Company will explore and produce non-associated gas in zone ‘A’ of the Empty Quarter, which covers approximately 30,000 square kilometres.
Other international oil companies will present tenders for exploration and production of non-associated gas in zones ‘B’ and ‘C’ in the Empty Quarter on Tuesday and Wednesday (27-28 January 2004). Names of the successful companies will be announced on Wednesday 28 January 2004.
Source: SPA
