In Baghdad, LUKOIL signs Supplement Agreement to the contract on development and production of oil at West Qurna-2 field. The Supplement Agreement puts on record the transfer to LUKOIL of Norwegian Statoil’s participation interest of 18.75% in the project. The Parties also agree to extend the period of target production level maintenance from 13 to 19.5 years and to prolong the total validity of the contract from 20 to 25 years.
LUKERG Renew (a parity-based joint-venture of LUKOIL-Ecoenergo and the Italian ERG Renew) acquired a 100% interest in the Romanian company Land Power SRL, which holds a license to build a wind power station, and the rights to a land plot with an area of around 500 Ha, located in the southeastern part of Romania. LUKERG Renew intends to start construction of the wind power station that would include 42 wind turbines with a total rated capacity of 84 MW.
LUKOIL launches a Vacuum Gasoil (VGO) Deep Conversion Complex construction project at the site of OOO LUKOIL-Volgogradneftepererabotka.
Complex commissioning will allow the Volgograd Refinery to increase the output of Euro-5 diesel fuel by 1.8 million tons per year.
LUKOIL starts construction of a combined-cycle gas turbine (CCGT) unit in the regional industrial park located close to the Stavrolen petrochemical complex. The 135-megawatt CCGT unit is designed to satisfy the needs of the gas chemical complex to be constructed by LUKOIL at the Stavrolen industrial site. The CCGT unit will be fueled by the associated petroleum gas LUKOIL intends to extract at the North Caspian fields.
LUKOIL acquires 100% of SAMARA-NAFTA, a company, producing oil in Samara and Ulyanovsk regions of the Russian Federation. ZAO Samara-Nafta has the rights to explore and develop more than 60 fields. The fields owned by the company are at the initial development stage and make it possible to maintain and build up the production rate. The transaction harmonizes with the Company’s Development Strategy until 2021 that provides for stabilization and growth of oil production rate in Russia.
LUKOIL commences active implementation of the “Early oil” project at the Imilorsko-Istochnoye license block. In 2013 – 2016 additional seismic surveys will be conducted, 15 “historic” exploration wells will be retested and 4 new exploration wells will be drilled. The production drilling is scheduled to begin in September of 2014. Extraction of the “first oil” is expected in March of 2015.