LUKOIL was notified today that the Board of Directors of the Italian
ERG has resolved to sell to LUKOIL 20% in the joint venture. The joint venture
was established to operate the ISAB refining complex located in Priolo
This is a partial exercise of ERG’s option to sell its stake
according to the agreement of 2008 to create a joint
Thus, LUKOIL’s stake in the joint venture can be increased from 60%
The transaction closing is expected in the second quarter of 2012.
The transaction amount will reach EUR 400 million, excluding