Block A Discovery For Lukoil-Saudi Aramco Joint Venture

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Lukoil Saudi Arabia Energy (Luksar), a joint venture between Russia's Lukoil and Saudi Aramco, has made a hydrocarbons discovery on the Tukhman structure in Block A in Saudi Arabia. The exploration well was spudded in January, with a targeted total vertical depth (TVD) of 5,000 metres. Although analysis of the results is not expected until next year, this find bodes well for other international oil companies (IOCs) operating in the area under different upstream gas contracts with Saudi Aramco.