In a media statement, the company announced, “[We have] agreed to buy oil exploration assets from Yukos Sakhaneftegaz, including its Lenaneftegaz subsidiary, which is exploring the Talakan field and its estimated 2.3 billion barrels of oil reserves.”
“The US$ billion required [will] pay for acquiring the field, exploring for and extracting oil and to link the Talakan to a planned pipeline to Nakhodka,” added the company.
Surgutneftegaz CEO, Vladimir Bogdanov, is confident his company’s investment was the right one. According to Bogdanov, “We will make new discoveries as there are other oil fields in the region.”
“[Furthermore, the company] has been encouraged by government statements that indicate the country may decide to build an oil pipeline to Nakhodka on the Pacific coast to sell fuel to Japan, rather than a link to Daqing in China,” he added.
