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.
OAO LUKOIL ensured a coupon payment on the convertible bonds issued by its Dutch affiliated company LUKINTER FINANCE B.V.
Today LUKOIL’s Board of Directors held in Moscow considered an issue on the postponement of the AGM.
A ceremony of setting afloat the upgraded Astra (formerly Marava) jack-up rig took place today in Astrakhan.
Today in Moscow President of LUKOIL Vagit Alekperov and Governor of the Saratov region Dmitri Ayatskov signed a Protocol stipulating for LUKOIL-Neftechem’s intention to acquire the assets of Nitron petrochemical plant. This Protocol is a follow-up on the cooperation agreement signed between the government of the Saratov region and LUKOIL on June 25, 1997.
Today in Moscow Vagit Alekperov, President of LUKOIL, and Andrey Kazmin, Chairman of the Board of Russia’s Sberbank (State Savings Bank), signed a General Cooperation Agreement.
April 16, 1999. Vagit Alekperov, President of LUKOIL, and Milos Zeman, Czech Prime Minister, discussed the outlook for cooperation between the Russian oil company and the Czech Republic during their meeting today.
The LUKOIL Board of Directors held a meeting today to consider the way the strategic concept of the Company`s development for the years 2005-2010 is implemented. The Board of Directors introduced amendments and additions into the Concept.
LUKARCO, being a joint venture between LUKOIL (54%) and Atlantic Richfield Co. of US (46%), in accordance with the 1998-1999 Work Plan conducted a 2D seismic survey at the D-222 prospective oil block in the Caspian Sea. To further understanding of the structure and optimize drilling locations for the first exploration wells, a 3D seismic survey was conducted in the central part of the structure.
LUK-Sintez Oil Ltd. acquired a controlling interest (51.9%) of the Odessa oil refinery.
In April 1999 within the framework of the Y2K problem, LUKOIL will complete testing of all its information systems. The Company started working on the Y2K- compliance in 1997. All measures are taken in accordance with detailed plans worked out by all subsidiaries of the Company. They will primarily cover the most critical business areas such as finance, economics, marketing of oil and petroleum products, SCADA control systems, telecommunications, interaction with partners, social infrastructure and security.