Project Profile
Value: Undisclosed
Location: Russian part of the Caspian Sea, Russia
Reserves: Best estimate gross contingent resources of 157 MMboe
Start-up Year: -
LLC Petroresurs is the 100% owner of the Lagansky block licence located in the Russian part of the Caspian Sea. The Lagansky block licence contains the Morskoye discovery with best estimate gross contingent resources of 157 MMboe. Lundin Petroleum currently has a 70% shareholding in LLC Petroresurs, with Gunvor holding the remaining 30%. The consideration is related to historical costs spent on the Lagansky block licence by Lundin Petroleum and Gunvor, and will be made in deferred payments. After the transaction is completed, Lundin Petroleum will have an indirect 34.3% interest in the Lagansky block licence through its shareholding in LLC Petroresurs. As part of the agreement, Rosneft and Lundin Petroleum have agreed to investigate possible co-operation in the Norwegian and Russian offshore sectors.
Operators:
LLC Petroresurs: Operator with 100% interest
Lundin Petroleum: 70% interest in LLC Petroresurs
Gunvor: 30% interest in LLC Petroresurs