Oao Lukoil News

Lukoil group companies will be the first new customers to use ESS’s upgraded and much improved eSDS Solution for compliance with REACH/GHS requirements. Electronic Shipping Solutions, the leading shipping eDocs provider, is pleased to announce that several members of the LITASCO Group have signed up to use its electronic Safety Data Sheet (eSDS) Solution. LITASCO will take advantage of the recently released upgrade to the eSDS Solution, featuring an improved user interface and eSDS sending process, further reducing the workload on users to meet REACH /GHS requirements.

J. Ray McDermott’s Caspian subsidiary has completed installation of offshore facilities at the Yuri Korchagin field for OOO LUKOIL-Nizhnevolzhskneft (LUKOIL), a subsidiary of OAO LUKOIL Oil Company. The Yuri Korchagin field is the first of the North Caspian fields in the Russian sector of the Caspian Sea to be developed by LUKOIL and brought commercially on-stream. The field development requires a number of major offshore facilities including an ice-resistant fixed processing platform (LSP-1) and adjacent living quarters (LSP-2) joined together by a 243-foot bridge.

According to a Bloomberg report, BP Plc discovered a gas deposit in the Caspian Sea that may double production from the largest natural gas development in Azerbaijan. BP shares rose 2.8 percent, the most in a month, in London trading after the company announcement. With the latest discovery, the field may be able to pump enough gas to supply Belgium and Luxembourg together. BP and partners including StatoilHydro ASA plan to spend $4.2b on the site's first stage, which started pumping fuel to Turkey in July, easing Europe's dependence on supplies from Russia's OAO Gazprom. The announcement is the second ``major'' discovery within a week after Petroleo Brasileiro SA said an offshore field could be Brazil's biggest ever oil find.

According to Bloomberg, OAO Lukoil, Russia's largest oil producer, and China National Petroleum Corp. will cooperate on oil and gas production abroad and supplying hydrocarbons to China. The partners will also consider ``opportunities to cooperate on supplying oil and gas to China and refining hydrocarbons'' in the country, according to Lukoil. China, the world's second-largest energy user, is seeking energy supplies as its economy expands at an annual rate of 11.9 percent, the fastest pace in more than a dozen years. The leaders of China and Kazakhstan, the second-biggest energy suppliers in the former Soviet Union after Russia, last month agreed to finance and build a network of pipelines to supply China with oil and gas from the Caspian Sea region.