Russian oil company Lukoil met with representatives of major international investment banks in Moscow to present information about future project opportunities.
A Lukoil official updated bankers on progress of projects implemented by the oil company in the Timan Pechora oil and gas province and in the Caspian Sea's northern zone.
Lukoil plans to submit an offer to investors to participate in project financing after the company obtains a confirmation of hydrocarbon reserves in this region.
Investment community representatives who attended the meeting expressed interest in conducting a study of the projects and stressed that they viewed Lukoil as their major client, cooperation with whom forms an important part of their business.
Meanwhile, analysts look for Lukoil to invest up to $150 million in 2001 in northern Caspian Sea projects, details of which should be disclosed soon.
© 2001 Mena Report (www.menareport.com)
