RussNeft has been granted a licence to explore for and produce hydrocarbons in the Lusianinskoye oil field in Russia. The licence is valid until February 2030. The field was discovered in 2008 and lies in the Engels District 30km southeast of Saratov. Last year one more exploration well was drilled and an additional study of the resource base of the new well was undertaken and three more hydrocarbon deposits were discovered: gas, gas condensate and oil and gas. At present the recoverable reserves of Lusianinskoye are around 2m bbl. RussNeft plans to start production within two years.
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