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NK Lukoil OAO, Gazprom OAO may form JV for Barents Sea block development by end 2014-Interfax

Monday, 16 Jun 2014 06:35am EDT 

NK Lukoil OAO:Lukoil and Gazprom plan to form a joint venture for work on the Barents Sea shelf by the end of this year, Lukoil chief Vagit Alekperov told reporters on the sidelines of the 21st World Petroleum Congress-Interfax.He said the block in question was the Medvezhy block.According to legislation, Lukoil will own 34 percent of the JV, he said, adding that Gazprom would own the rest.Financing will take place in line with stakes in the JV. 

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