Gunvor Group is planning to resume investments in drilling at Morskoye field in the Caspian Sea. The information leaked behind the stages of the World Economic Forum in Davos.
Gunvor Group Ltd is one of the world leading oil traders. The company holds an indirect interest in the Lagansky Block license through a joint venture with Lundin Petroleum AB. Acquired in 2009, it was its first investment in oil exploration.
The Lagansky Block is an offshore area located in the Russian sector of the Caspian Sea. Contained within the license area is the Morskoye discovery, which has best estimate gross contingent resources of 157 MMboe.