Lukoil completes deal to acquire interest in LukAgip
Tue, 11 January 2005
RUSSIA’S Lukoil has completed a transaction to acquire ENI Group’s 50% interest in LukAgip NV, which was initiated last June, the company said in a statement recently. As a result, Lukoil has become owner of 100% of LukAgip.
LukAgip NV owns a 24% interest in the concession agreement on the license to develop hydrocarbons at the Meleiha field in Egypt, a 10% share in the exploration, development and production sharing agreement on the Shah Deniz field in Azerbaijan, an 8% share in the Azerbaijan Gas Supply Company Ltd, as well as LukAgip Midstream BV, which is the owner of a 10% interest in the South Caucasian Pipeline Co. The transaction confirms Lukoil's strategy in developing producing projects in the key activity regions of North Africa and the Caspian Sea, the company said.
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