Russian oil major Yukos implements western-style reorganization

Dean E. Gaddy Drilling Editor Located near the Ob River, the Priobskoye oil field, with estimated reserves of 680 million metric tons, is one of the largest partially developed oil fields in Western Siberia. This field was recently included on the Russian Federation's list of oil fields that can be developed through production-sharing agreements. Photo courtesy of Yukos Oil Co. Russia's Yukos Oil Co., determined to become a world-class oil company, is engaged in an aggressive, two-part reorganization to reduce costs and improve operating efficiencies. "We have structured the company into several business units," said Mikhail Khodorkovsky, chairm...

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