Russian oil producer Lukoil has announced that it has plans to start natural gas production in Saudi Arabia next year
Leonid Fedun, vice president of Lukoil, said, “We made a discovery of 400bn cubic metres in the country. This would be large enough and the first gas-producing project in Saudi Arabia.”
Lukoil had also secured a deal last decade to find and pump gas in Saudi Arabia from the project known as Block A.
The project creates a link between producer Organisation of the Petroleum Exporting Countries’ (OPEC’s) leading member and Russia, Reuters reported.
Meanwhile, US energy consultancy PIRA had said earlier that Saudi Arabia was set to pump 10.5mn bpd in the Q3 2013, a million increment over Q2.
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