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    LKOH   RU0009024277

PJSC LUKOIL

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LUKOIL : Signs Contract On Al-Farabi Project

06/04/2021 | 11:48am EDT

LUKOIL SIGNS CONTRACT TO ACQUIRE SHARE IN AL-FARABI OFFSHORE PROJECT IN KAZAKHSTAN

President of PJSC "LUKOIL" Vagit Alekperov and Chairman of the Management Board of JSC NC "KazMunayGas" Alik Aidarbayev signed a sale and purchase agreement for a 49.99% stake in the charter capital of Al-Farabi OperatingLLP. The signing ceremony took place today at the St. Petersburg International Economic Forum (SPIEF).

Following satisfaction of a number of conditions precedent LUKOIL will join the exploration and production project on the Al-Farabi block (previously known as I-P-2 block) in the Kazakhstan Sector of the Caspian Sea. A Head of Agreement on the project was signed at the SPIEF in 2019.

The companies' decision to join efforts in the development of the Al-Farabi block is another step in their continuous fruitful cooperation. LUKOIL, the Ministry of Energy of the Republic of Kazakhstan and KazMunayGas had earlier concluded a contract for hydrocarbon exploration and production on the Zhenis block. LUKOIL and KazMunayGas are also strategic partners in the large-scale Karachaganak and Tengiz projects, in joint ventures that develop the Khvalynskoye and Tsentralnoye fields, as well as in the Caspian Pipeline Consortium oil transportation project.

For reference:

The Al-Farabi block is located in the Kazakhstan sector of the Caspian Sea, bordering the block of Zhenis field. Water depth within its area ranges from 150 to 500 metres; the distance to the shore is 100-130 kilometres. The area of the block exceeds 6000 square kilometres. The sea in the area is ice-free all year round.

Disclaimer

OAO Lukoil published this content on 04 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2021 15:47:59 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 111 B - -
Net income 2021 8 613 M - -
Net Debt 2021 165 M - -
P/E ratio 2021 7,05x
Yield 2021 11,1%
Capitalization 57 094 M 57 125 M -
EV / Sales 2021 0,52x
EV / Sales 2022 0,50x
Nbr of Employees 101 374
Free-Float 55,3%
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Last Close Price 87,50 $
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Managers and Directors
Vagit Yusufovich Alekperov President, Chief Executive Officer & Director
Pavel Lukoil Zhdanov Vice President-Finance
Ravil Ulfatovich Maganov Chairman
Roger Llewelyn Munnings Independent Director
Lyubov Nikolayevna Khoba Director
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