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History. 2013

Two Projects in the Norwegian Sector of the Barents Sea

LUKOIL joined two projects in the Norwegian sector of the Barents Sea following the results of the 22-nd licensing round initiated by the Norwegian Ministry of Petroleum and Energy. As for Block 719 (Fingerdjupe province), LUKOIL holds a 30% stake, English Centrica holds a 50% interest (operator), while the Norwegian North Energy has 20%. As for Block 708 (Finnmark province), LUKOIL holds a 20% stake, Swedish Lundin Norway holds a 40% interest (operator), North Energy and Edison of Italy each hold 20%.

Renewables Developed

The joint venture of LUKOIL and Italian ERG Renew — LUKERG Renew acquired a 100% interest in the Land Power SRL of Romania, which holds a license for construction of a wind power plant, and the rights to an around 500 hectares land plot in the southeast of Romania. UKERG Renew is planning to start construction of the wind farms designed for 42 wind turbines with a total capacity of 84 MW. In addition, LUKERG Renew acquired two wind farms (WF) with a total capacity of 84 MW. The clean electricity generated by WF Gebelizis and Khrabrovo will help reduce annual СО2 emissions by 77 thousand tons.

LUKOIL Expands its Presence in West Africa

LUKOIL acquired a 65% stake in the exploration, development and production project at CI-504 offshore block in the waters of the Republic of Cote d’Ivoire in the Gulf of Guinea. The interest in the project was purchased from Taleveras Energy, a private Nigerian company that kept 25% after the acquisition, while the remaining 10% interest is held by PETROCI Holding, a state-owned company. CI-504 is located in the vicinity to the active Baobab field. The block’s area is 399 square km, while water depth is ranging from 800 to 2,100 meters. On the south CI-504 borders CI-205, another LUKOIL-owned block.

LUKOIL Acquires OMV's European Lubricant Business

LUKOIL and OMV Refining & Marketing GmbH signed a contract for acquisition of OMV’s lubricant blending plant located in the suburbs of Vienna, Austria. Besides the plant that has a capacity of 35 thousand tons per year, the contract includes a number of subdivisions dealing with distribution of finished products in Austria, Bulgaria, Hungary, Germany, Romania, Slovenia, Slovakia, Czech Republic and Serbia. The transaction will also create synergies with the Company’s plants in Romania and Finland, optimize lubricants supply logistics to the Company’s strategic partners and strengthen LUKOIL’s R&D capabilities for the development of new lubricants.

Production Commenced at R.Trebs and A.Titov fields in Nenets Autonomous Okrug

Bashneft-Polus, a joint venture of LUKOIL and OJSC ANC Bashneft, began oil production as part of the Trebs and Titov field development in Nenets Autonomous Okrug. Oil is produced as part of pilot operation of the field. As part of preparation for pilot production in 2011-2013, Bashneft-Polus as operator of the Trebs and Titov Development Project, constructed field facilities and hooked up 12 exploratory wells at R. Trebs field to the utility network. It constructed over 40 km of gathering lines, around 80 km of power transmission lines, completed the first stage of the 1.5 million tons per year central gathering plant (CGP), oil delivery and acceptance station (ODAS) with an oil metering station, pressure oil pipeline Trebs CGP - Varandey ODAS that is over 31 km in length, as well as numerous auxiliary facilities.

LUKOIL Acquires New Service Station Networks in Benelux

LUKOIL acquires 10 OERAL-branded automated gas stations in Belgium, and 21 ROTONDE-branded gas stations in the Netherlands. Fifteen of them are self-service stations. Thus, due to the new acquisitions, the total number of LUKOIL’s gas stations in Benelux countries will be 250, including 187 in Belgium, 61 in the Netherlands, and 2 in Luxembourg. LUKOIL entered the Benelux retail market in 2007 following acquisition of a gas station network in Belgium and Luxembourg. In 2012, the Company acquired a service station network in the Netherlands.

LUKOIL Acquires a 100% Stake in ISAB Refinery

LUKOIL has completed acquisition of the remaining 20% interest in the joint venture created to operate the ISAB refinery located in the vicinity of Priolo (Sicily, Italy) from the Italian ERG. Thus, the Company became sole owner of this enterprise. The agreement to set up a joint venture to operate the ISAB complex was signed in 2008. At that time LUKOIL owned 49%, while ERG had a 51% stake. In 2011, LUKOIL raised its stake in the joint venture up to 60%, and in 2012 it increased its total interest to 80%. ISAB complex includes two refineries connected via a pipeline system and integrated into a common engineering complex with a total capacity of 16 million tons per year, as well as a 3,700 thousand cubic meter tank farm and three marine terminals.