Gas utility GAIL and Lukoil, the world's second largest private oil company by proven hydrocarbons reserves, have formed a panel of senior executives to explore the possibility of jointly setting up a petrochemicals plant in Russia and farming in the Indian state-owned company in the Russian firm's gas field in Saudi Arabia.
Also on the agenda is the proposal to cart gas to India as LNG, once it is processed to extract petrochem feedstocks.
Lukoil's proven reserves at the beginning of 2007 were 15,927 million barrels of crude and 26,597 billion cubic feet of gas. The company started its gas program after the Nakhodkinskoye gas field became operational in 2005. The key regions for development of Lukoil's gas production are the Bolshekhetskaya Depression, the Northern Caspian and Tsentralno-Astrakhanskoye field in Russia as well as the Kandym Khauzak Shady project in Uzbekistan and the Shakh Deniz project in Azerbaijan.
Also on the agenda is the proposal to cart gas to India as LNG, once it is processed to extract petrochem feedstocks.
Lukoil's proven reserves at the beginning of 2007 were 15,927 million barrels of crude and 26,597 billion cubic feet of gas. The company started its gas program after the Nakhodkinskoye gas field became operational in 2005. The key regions for development of Lukoil's gas production are the Bolshekhetskaya Depression, the Northern Caspian and Tsentralno-Astrakhanskoye field in Russia as well as the Kandym Khauzak Shady project in Uzbekistan and the Shakh Deniz project in Azerbaijan.
