Lukoil Sells its Stake in Venezuela Project to Rosneft

MOSCOW, Dec 23 (Reuters) - Russia's largest independent oil producer Lukoil said on Monday it has sold its 20-percent state in a consortium developing a large oil project in Venezuela to its Russian peer Rosneft.

Lukoil, Russia's No.2 oil producer, last year said it wanted to sell its stake in the Russian Junin-6 consortium developing heavy oil in the Orinoco basin, in order to focus on other projects.

The group is led by Rosneft and also includes Gazprom Neft.

(Reporting by Lidia Kelly and Olesya Astakhova, editing by William Hardy)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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