Lukoil to sink $1.3bn into greenfield projects

.Lukoil intends to channel $1.3bn into the development Trebs and Titov oil fields in the north of the European part of Russia between 2012 and 2022, oil major's Vice-President Leonid Fedun said during a conference call.

      Fedun went on to say that since Lukoil owned a 25.1% stake in a joint venture it had formed with another oil major Bashneft to develop the oil fields, its investment effort would be commensurate with its interest, which means that the total investments in the project would reach $5.2bn.

      Fedun expects a $500m synergy from joint exploitation of its regional infrastructure for both Lukoil and Bashneft.

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