Lukoil subsidiary becomes sole owner, operator of Wolgodeminoil
May 28, 2021
Wolgodeminoil, the joint Russian-German joint venture between Wintershall Dea and RITEK, a subsidiary of Lukoil, is to become wholly owned and solely operated by RITEK. Wintershall Dea transferred its 50% interest on May 27.
Wolgodeminoil, the joint Russian-German joint venture between Wintershall Dea and RITEK, a subsidiary of Lukoil, is to become wholly owned and solely operated by RITEK. Wintershall Dea transferred its 50% interest on May 27.
The transfer has been confirmed by the Russian Federal Antimonopoly Service (FAS).
Wolgodeminoil started production in Zalivnoye field in 2019. To increase efficiency at Molodezhnoye, Avilovskoye, and Dobroye fields, gas-powered CHP units were installed to meet the company’s own electricity needs.
Wolgodeminoil is active in fourteen districts of the Volgograd region as well as five districts of the Saratov region and is producing oil and natural gas from 12 fields.
