Gazprom and Lukoil Make Caspian Find
Russia’s OAO Gazprom and OAO Lukoil say they discovered a sizable oil and gas field in the Caspian Sea — but just how big, they are not sure.
Dow Jones Newswires quotes an official as saying it could hold up to 730 million barrels of oil.
Gazprom and Lukoil signed a deal in 2003 to develop a Caspian project with Kazakhstan’s KazMunaiGaz.
Lukoil is Russia’s largest private oil company, and Gazprom is the world’s largest gas company.
The landlocked Caspian is believed to contain the world’s third-largest energy reserves.
