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Lukoil Says Vietnam Drilling Failed to Find Commercial Reserves

OAO Lukoil failed to find commercial reserves after drilling two wells off Vietnam, Deputy Chief Executive Officer Leonid Fedun said today at a presentation to investors in Hong Kong.

Lukoil is now reconsidering its plan for the Vietnam project, Grigory Volchek, a spokesman for the company’s overseas unit, said by telephone.

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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