LUKOIL Will Again Not Receive The Nadezhda Shelf Area In the Baltic
The government again refused to issue a license to LUKOIL: this time it is asking the company to update the environmental study on the project.
Since 2016, LUKOIL has been unable to obtain permission from the authorities to issue a license for the Nadezhda offshore hydrocarbon area located in the Baltic Sea. Recently, the company received another refusal from the authorities to issue a license, the Kommersant newspaper writes.
This time, the reasoning behind the refusal is based on the fact that environmental research data is outdated. And they are needed to confirm the safety of geological exploration at the project in modern conditions.
The latest environmental data provided by LUKOIL is dated 2021. Most likely, the company will have to conduct research again, and then again enter into a lengthy process of approval with approval departments for issuing an offshore license.
LUKOIL has projects in the Baltic, and the company has extensive experience in shelf development. Apparently, you just need to be patient and consistently overcome all the obstacles of the bureaucracy in order to get another shelf license on your balance sheet.
