Lukoil and Gazprom Neft are investing over ₽200 billion in the Meretoyakhaneftegaz JV in YNAO, said Vagit Alekperov, head of Lukoil. He also added that the infrastructure of the partners in the region already allows to export oil and gas. Geological reserves of Meretoyakhaneftegaz are estimated at more than 1 billion tons of oil and about 500 billion cubic meters of gas. The recoverable reserves are still much less: according to Kommersant they are 239m tons of oil and 245bn cubic meters of gas, but this is already enough to consider this asset as one of the biggest new Russian projects.