Lukoil intends to open lubricants plant in Kazakhstan (Exclusive)

Oil&Gas Materials 29 November 2018 14:04 (UTC +04:00)

Baku, Azerbaijan, Nov. 29

By Rashid Shirinov – Trend:

Russian Lukoil company plans to launch in 2019 a lubricants plant with a capacity of 100,000 tons per year in the Almaty region of Kazakhstan, the company told Trend.

"The enterprise will provide both Kazakhstan and neighboring countries with high-quality lubricants for all types of modern machinery and equipment," Lukoil noted.

Also, this summer, as part of expansion of its activities in Kazakhstan, Lukoil signed an agreement with the Kazakh oil and gas company KazMunaiGas on the principles for the Zhenis block in Kazakhstan’s sector of the Caspian Sea.

"The agreement assumes that after the implementation of corporate procedures, the parties will form a consortium and hold negotiations with the competent authority of Kazakhstan to obtain subsoil use rights in this block, " Lukoil noted.

Zhenis block is located in Kazakhstan’s sector of the Caspian Sea, 80 kilometers offshore, at a depth of 75-100 meters. The license area is 6,848 square kilometers.

Lukoil has been operating in Kazakhstan since 1995. The company works at the Tengiz, Karachaganak and Kumkol oil and gas fields of the country and is a member of the Caspian Pipeline Consortium, which transports most of Kazakhstan’s export oil.


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