Timan-Pechora Basin

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The Timan-Pechora Basin is an oil field basin in northern Russia. It is south of the Pechora Sea. A planned project to mine its oil and gas was conceived in the mid-1990s and approved by United States and Russian Governments. As of September 29, 2004, Conoco and LUKoil planned to jointly develop this Basin.

Lukoils oil production in million tons[edit]

2004 2005 2006 2007 2008 2009 2010 2011
11.732 12.476 13.601 14.576 16.685 21.662 21.175 17.547

Reference:[1]

Since 2004 the production increased and the importance for LUKoil increased. However, the production began to decline in 2010. Large investments are needed to increase production rates or at least to maintain production at levels over 17 million tons annually.

Sources[edit]

  1. ^ Lukoil - Oil production

See also[edit]

External links[edit]