Bloomberg News

Lukoil Begins Drilling Off Vietnam, Expects Results in a Month

October 31, 2011

Oct. 31 (Bloomberg) -- OAO Lukoil, the Moscow-based oil producer with the most assets overseas, has begun exploratory drilling off Vietnam and expects initial results in about a month, spokesman Grigory Volchek said today by telephone.

The Vietnamese government signed off on a deal giving Lukoil a 50 percent share of the production-sharing agreement to tap the Hanoi Trough-02 block in the South China Sea on Oct. 20, according to a regulatory filing then.

--Editors: Randall Hackley, Amanda Jordan

To contact the reporter on this story: Stephen Bierman in Moscow sbierman1@bloomberg.net.

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net.


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