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2014-05-16 19:37:00

LUKOIL DRILLS SAUDI

LUKOIL DRILLS SAUDI

Russia's Lukoil is set to drill deep for unconventional gas in Saudi Arabia's challenging "Empty Quarter" desert region early next year after a decade-long hunt for conventional deposits that has proved futile.

The world's top oil exporting nation invited international oil companies (IOCs) - such as Lukoil, Royal Dutch Shell and Sinopec - to find and pump gas in its southeast Empty Quarter, known as Rub al Khali, more than 10 years ago.

 

Saudi wants natural gas to help it cover subsidised domestic power demand so it can save oil for more lucrative exports.

The…

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Tags: OIL, RUSSIA, LUKOIL, SAUDI, ARAMCO
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