Gazprom Neft, LUKoil mull assets for joint venture

St. Petersburg, Jul 23, 2008 (RosBusinessConsulting via COMTEX) -- LUKOY | Quote | Chart | News | PowerRating -- Gazprom Neft and LUKoil will determine the assets to be handed over to their newly created joint venture, once they have completed the analysis of the influence of the latest tax changes in the oil sector on the joint venture's operations and studied geological data on potential oil fields, Gazprom Neft's CEO Alexander Dyukov told journalists today. He stressed that, although there were no problems regarding the launch of the new company's operations, it was a fairly complicated project. Specifically, the parties are considering various oil fields that could be transferred to the joint venture and are assessing the efficiency of their development in light of the latest tax changes, Dyukov said. Gazprom Neft and LUKoil announced earlier that the joint venture, which was registered in December 2007, was aimed at the implementation of joint oil and gas projects, particularly obtaining licenses to use subsurface resources, carrying out geological surveys, as well as the development of new oil and gas fields and hydrocarbon transportation.

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