Lukoil has been awarded the rights to develop the Vostochno-Taimyrsky block in Eastern Siberia.
The win comes as the company as the company battles allegations of money laundering at its Petrotel refinery in Romania.
The licence is located in the Taimyr Dolgano-Nenets district of the Krasnoyarsk region.
The concession period will last 27 years and the company said it hopes it will open up new opportunity for the company in the region.