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2014-03-20 08:06:00

LUKOIL TO TAP KSA

LUKOIL TO TAP KSA

AOG. Russian oil giant Lukoil is currently negotiating with Saudi Arabia over a deal to harvest unconventional gas deposits located in the country’s barren ‘Empty Quarter’.

Saudi Arabia has kept its vast oil reserves off-limits to foreigners, but needs natural gas to help cover domestic power demand and conserve oil for export. It invited investors a decade ago to find and produce gas in the Empty Quarter region in Saudi Arabia's southeast, also known as Rub Al Khali.

But foreign companies which formed joint ventures with state…

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Tags: LUKOIL, GAS, OIL, SAUDI ARABIA, SHELL, SINOPEC
Chronicle:
LUKOIL TO TAP KSA
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