"I have no doubts it's going to be renewed. I think [it will happen] already this year," the Prime-Tass news agency quoted Lukoil President Vagit Alekperov as saying at an investment forum in Sochi.
Meanwhile, the head of Russian subsoil agency Rosnedra, Anatoly Ledovskikh, said Russia's antimonopoly regulator has questions on the license due to Lukoil's foreign investments.
When asked if the license for Tsentralnaya would be issued if Lukoil achieves its planned buyback of the remaining 11.61% stake in the company owned by US firm ConocoPhillips, Ledovskikh said it could.
"When they complete [the procedure], we'll issue it," Prime-Tass quoted Ledovskikh as saying.
The current law on foreign investments, adopted in mid-2008 during a period of high oil prices, limits foreign investors' access to Russia's offshore areas that fall under the category of "strategic reserves."
Alekperov said the decision on whether to exercise a buyback option will be taken next week. The option expires on September 26.
Tsentralnaya is developed on a parity basis by Kazakhstan's KazMunaiGaz and Tsentrkaspneftegaz, a 50:50 joint venture between Lukoil and Gazprom.
TREBS, TITOV BID
Speaking at the same event, Prime-Tass reported Alekperov as saying that Lukoil would be ready to launch production from the strategic Trebs and Titov fields in Russia's north in two years if the company were to win the tender for the fields scheduled for December 2.
He said that Lukoil is more prepared than any other company to develop the fields.
The tender terms give the winner eight years to explore the fields, but Lukoil said it would conduct exploration in two years and commission the fields.
"Our country's budget will get a considerable sum of money already in the nearest eight years, that other companies will need to explore and develop the fields," Alekperov was quoted as saying by Prime-Tass.
The winner of the tender for Trebs and Titov is required to refine at least 42% of the hydrocarbons from the fields at its own refineries.
Lukoil is considering the construction of a refinery in the Nenets autonomous region--where the Trebs and Titov fields are located--with the financial support of the local government, Prime-Tass quoted the government as saying.
Trebs and Titov, with combined reserves estimated at 137 million mt (1 billion barrels) are the biggest explored oil fields in Russia that have yet to be auctioned. The deadline for applications is next Monday.
Russia set the initial price for the fields, which will be sold as a single parcel, at a record Rb18.171 billion ($586 million).
China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html
