Middle East Economic Survey

VOL. XLVIII

No 9

28-February-2005

CASPIAN

Lukoil Withdraws From Zykh-Govsany

Lukoil Overseas Holding, the foreign operations arm of Lukoil, on 16 February announced that it had withdrawn from the onshore Zykh-Govsany block. A statement released by the company said the decision had been reasoned by the fact that the economic performance of the project does not meet the companys efficiency requirements due to considerable expenses for the environmental reinstatement of the...