LUKoil discovers new oil field

LUKoil Overseas, the foreign operating unit of Russian oil major LUKoil, has discovered a new oil field in the Republic of Komi, Russia, the company reported. The new oil field is called Severo-Niyedzyusk. The estimated resources of the new oil field are seen at 4.1 million tons. A test well has been drilled yielding 120 tons of oil per day, the company said. LUKoil is now developing a plan to set up the transportation and pipeline infrastructure necessary for developing the field, the Russia Journal reported.

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