Vysotsk Shipping Terminal Commissioned
Stage one LUKOIL-II distribution and transshipment facility was commissioned on Vysotsk island (Leningrad Oblast). It is designed for export of oil and petroleum products. The full design capacity is 11.6 million tons per year. Terminal construction commenced in 2002. Stage one is commissioned in 2004, stage two — in April 2005. Achievement of the design capacity at this unique facility helps the Company to significantly increase its export of oil and petroleum products and significantly reduce their transportation costs.
African Offshore Projects Joined
The Company acquires a 63% stake in the PSA for exploration, development and production of hydrocarbons at deepwater offshore block CI-205 in Cote d’Ivoire from Oranto Petroleum International Ltd. of Nigeria. The block area is 2.6 thousand square meters. It is located in the Gulf of Guinea close to the recently discovered Boabab oil field, Cote d’Ivoire’s largest field.
Marketing Assets Acquired in Europe
An agreement was signed with ConocoPhillips for acquisition of its retail business comprising 376 service stations in six European countries, including 156 service stations in Belgium, 49 in Finland, 44 in Czech Republic, 30 in Hungary, 83 in Poland, and 14 in Slovakia. The acquired service stations are leaders in terms of performance on their markets.