Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Lukoil Sells Interest in Kazakhstan Projects to Sinopec

change text size

Russia's Lukoil reported Tuesday that it has sold its share of four hydrocarbon production projects in Kazakhstan to China's Sinopec.

Lukoil said it has agreed to sell its 50-percent stake in Caspian Investment Resources Ltd to Sinopec for $1.2 billion. Caspian Investment Resources, through a number of joint ventures, holds various interests in the four projects, which contributed 10.2 million barrels of oil equivalent to Lukoil's production last year.

Lukoil said the transaction was designed to optimize Lukoil's overseas hydrocarbon asset portfolio. The firm added that it will continue to participate in Kazakhstani hydrocarbon production projects, including Kumkol, Karachaganak and Tengiz, while it remains a member of the Caspian Pipeline Consortium.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Northern Petroleum Awarded Two Permits... (Jul 24)
 -  BW Offshore Takes 100% Ownership of Pe... (Jul 24)
 -  Centrica Comes Up Dry near Ula Field (Jul 23)
 -  Ruspetro Conducts Successful Flow Test... (Jul 23)
 -  Kongsberg Bags $53M Contracts from Chi... (Jul 23)
Most Popular Articles
From the Career Center
Jobs that may interest you
Government Relations Advisor
Expertise: Legal, Regulatory Compliance
Location: Washington, DC
 
Proposal Coordinator
Expertise: Business Development
Location: Houston, TX
 
Proposal Manager
Expertise: Business Development, Sales and Marketing
Location: Houston, TX
 
search for more jobs