Lukoil applies for subsoil block in Baltic Sea

Lukoil has again submitted an application for the Nadezhda subsoil block, located in the Baltic Sea. The Natural Resources Ministry of Russia confirmed the information, Report informs via Russian media.

"The application of Lukoil-Kaliningradmorneft LLC for the Nadezhda subsoil block in the Baltic Sea has been submitted during the 'winter window,'" the ministry said, noting that the application package will be opened at the end of the "window", that is, on February 1, 2023.

Lukoil has been trying to get a license for this area since 2016. Then the company proposed to the government to arrange an auction for Nadezhda - a site of federal significance, with special requirements: the applicant must be registered in the Kaliningrad region and have experience developing deposits there.

Nadezhda is located within the boundaries of the 12-mile zone (territorial sea) in the Kaliningrad region. It does not apply to the continental shelf, access to which is allowed only to state-owned companies.