LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally.
LUKOIL and Gazprom Neft concluded an agreement on cooperation in implementation of oil recovery enhancement projects. The companies agreed to develop national production of chemical agents and equipment for oil recovery enhancement, to collaborate in lab research and testing new chemical compounds when developing mature reserves at their fields.
Vagit Alekperov, President of PJSC LUKOIL, and Rustam Minnikhanov, President of the Republic of Tatarstan, signed a cooperation agreement. The agreement aims at increasing the efficiency of Tatarstan fuel and energy complex, improving investment environment in the region, expanding its mineral resources base, promoting stability and environmental improvement.
LUKOIL continues its work to reduce controlled greenhouse gas emissions at its production facilities. The Company began supplying electricity to its Stavrolen petrochemical plant (Budennovsk, Stavropol region, Russia) from LUKOIL's own solar power plant (SPP) located at its Volgograd refinery. About 11 million kWh are expected to be supplied annually.
LUKOIL announces conclusion of an agreement on acquiring 15.5% interest in the Shah Deniz natural gas project in the Azerbaijan sector of the Caspian Sea from PETRONAS. Following completion of the sale, LUKOIL's interest in the project will increase from 10% to 25.5%.
Vagit Alekperov, President of PJSC LUKOIL, and Andrey Khlopyanov, acting First Deputy Chairman of the Government of Stavropol region, took part in today's foundation stone ceremony for the second stage of Gas Processing Unit (GPU-2) at the Stavrolen petrochemical plant in the city of Budennovsk.
LUKOIL signed an agreement on acquiring a 25% participating interest in the Shallow Water Absheron Peninsula (SWAP) exploration project in the Caspian Sea from bp. The deal is expected to complete before the end of 2021, following its approval by the government of Azerbaijan.