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History. 1997

Switching over to common corporate shares

Consolidation of JSC LUKOIL's subsidiaries by converting their shares into the Company's common shares is coming to a close.

Karachaganak and Tengiz – first projects in Kazakhstan

The Company acquires a 15% interest in the project for the development of Karachaganak gas and gas-condensate field, and a 5% stake in Tengiz project. Currently, LUKOIL is one of Russia’s major investors in Kazakhstan: the cumulative investments into the republic’s economy come to around USD 7 billion. The share of hydrocarbons produced by the Company is about 10% of Kazakhstan’s total oil production.

Joining West Qurna-2 project (Iraq)

The Company signs a contract with the Iraqi Oil Ministry for the development of West Qurna-2, the world’s largest oil field. The project was frozen in 2002 due to international sanctions. The new agreement was signed in 2010.

Initial offering at the Moscow Interbank Currency Exchange

Upon initial offering at the MICE and RTS, PJSC LUKOIL’s shares were, from the very start, assigned the first level listing. Preserving high positions among the blue chips, LUKOIL’s shares are considered one of the Russian stock market’s oldest instruments.

First International Reserves Audit 

Miller&Lents (USA) consultancy is invited to perform the reserves audit. One of the first companies to have audited its reserves according to the global standards, LUKOIL is consistent in pursuing its goal to promote its shares on the global financial market.

LUKOIL Racing Team Created

Over the years of the team’s history LUKOIL Racing Team went on to become one of the leaders in domestic motor racing, while its racers won more than 70 championships and Cups of Russia and about 300 Russian and international tournaments.