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Egypt

  • Representatives of the investment community visited Egypt from March 31 to April 3, 2004 to lean more about LUKOIL activities in North Africa and the Middle East.

  • The Company lends great importance to this region, which has unique hydrocarbon reserves and is highly promising for development of oil and gas business.

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LUKOIL management appreciates that the company's efforts to develop international upstream projects and increase highly liquid assets must be transparent and comprehensible for the Company's shareholders and investors, as well as for professionals on international financial and stock markets.

More than 50 people took part in the trip, including LUKOIL top managers, business and oil & gas journalists, and representatives of leading Russian and international investment companies, such as: Clariden Bank, Brunswick UBS, J.P. Morgan, Lehman Brothers, Raiffeisenbank, Аton, Metropol, UFG, Renaissance Capital, Troika Dialog and others.

The trip included meetings with top officials of the Arab Republic of Egypt. Counselor of the Embassy of the Russian Federation in Arab Republic of Egypt Andrey Zakharov, welcomed the visitors and opened a presentation of the Egyptian oil and gas sector, which was sponsored by the Egyptian Oil Minister, Samekh Fakhmi. Speakers included  Chairmen of the National Oil Company, the Egyptian oil holding, South Valley, the Egyptian gas holding, EGAS, the Egyptian petrochemical holding, EPHC, and the Egyptian oil company, Tharwa.

LUKOIL Overseas President Andrey Kuzyaev offered a presentation «LUKOIL in North Africa and Middle East: from Financial Investor to International Operator» rounding up LUKOIL international upstream projects.

LUKOIL Overseas Regional Director for Egypt, Sergey Nikiforov, gave an overview of the Egyptian energy sector and LUKOIL's current and prospective activities in Egypt in his presentation, «LUKOIL in Egypt».

The visitors were given a tour of WEEM production facilities and a boat trip in the Gulf of Suez close to the Geisum blocks.

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