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    LKOH   RU0009024277

PJSC LUKOIL

(LKOH)
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Lukoil, Gazprom Neft Create Joint Venture to Develop Siberian Oil and Gas Cluster

09/16/2021 | 10:59am EDT

By Anthony O. Goriainoff

Lukoil PJSC said Thursday that it has created a joint venture with Gazprom Neft to develop a major oil and gas cluster in Russia's Yamal-Nenets autonomous region.

The Russian oil-and-gas company said the JV will cover the Tazovskoye, Meretoyakhinskoye and Severo-Samburgskoye fields, as well as two Zapadno-Yubileyny license blocks, located in northwest Siberia.

The company said total geological reserves initially in place at the cluster stand at over 1 billion metric tons of oil and about 500 billion cubic meters of gas. The company said a considerable proportion of the reserves initially in place are within the Achimov formation and that they are categorized as hard-to-recover reserves.

"This joint venture, bringing together our financial and technological resources, will see us working on developing hard-to-recover reserves, including producing oil from Achimov formation. This, in turn, will create new jobs and extra tax revenues at every level, as well as facilitating further technological development of our companies and the entire ecosystem of contractors and equipment producers," Gazprom Chief Executive Alexander Dyukov said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

09-16-21 1058ET

Stocks mentioned in the article
ChangeLast1st jan.
PJSC LUKOIL 0.44% 7343 End-of-day quote.42.09%
PUBLIC JOINT STOCK COMPANY GAZPROM -0.72% 364.99 End-of-day quote.71.61%
PUBLIC JOINT STOCK COMPANY GAZPROM NEFT 1.16% 525 End-of-day quote.65.64%
WTI -0.37% 82.201 Delayed Quote.69.35%
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More news
Analyst Recommendations on PJSC LUKOIL
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Financials (USD)
Sales 2021 114 B - -
Net income 2021 8 995 M - -
Net cash 2021 1 533 M - -
P/E ratio 2021 7,77x
Yield 2021 7,94%
Capitalization 67 241 M 67 187 M -
EV / Sales 2021 0,58x
EV / Sales 2022 0,56x
Nbr of Employees 101 374
Free-Float 55,3%
Chart PJSC LUKOIL
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PJSC Lukoil Technical Analysis Chart | LKOH | RU0009024277 | MarketScreener
Technical analysis trends PJSC LUKOIL
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Last Close Price 103,05 $
Average target price 102,07 $
Spread / Average Target -0,95%
EPS Revisions
Managers and Directors
Vagit Yusufovich Alekperov President, Chief Executive Officer & Director
Pavel Lukoil Zhdanov Vice President-Finance
Ravil Ulfatovich Maganov Chairman
Roger Llewelyn Munnings Independent Director
Lyubov Nikolayevna Khoba Director
Sector and Competitors
1st jan.Capi. (M$)
PJSC LUKOIL42.09%67 268
SAUDI ARABIAN OIL COMPANY6.86%1 995 631
ROYAL DUTCH SHELL PLC43.70%189 427
PETROCHINA COMPANY LIMITED70.42%149 723
TOTALENERGIES SE26.49%136 163
PUBLIC JOINT STOCK COMPANY GAZPROM71.61%122 578