Vagit Alekperov met with Alexey Miller today

28.09.2007    1 мин.   


A working meeting of Gazprom chairman Alexey Miller and LUKOIL president Vagit Alekperov was held in Gazprom’s headquarters today. The parties discussed issues concerning establishment of a joint venture of OAO “Gazpromneft” and OAO “LUKOIL”.

Information:
ОАО “Gazpromneft” is a subsidiary of OAO “Gazprom”.
In May 2007, OAO “Gazpromneft” and OAO “LUKOIL” signed a memorandum of understanding.
As part of the memorandum, the parties agreed on joint implementation of oil and gas projects in the Russian Federation, including:
- geological exploration of jointly acquired fields;
- exploration and production of hydrocarbons in jointly acquired fields;
- construction of field facilities, infrastructure development including construction of new facilities and modernization of existing ones;
- transportation and sale of produced hydrocarbons.
For this purpose, OAO “Gazpromneft” and OAO “LUKOIL” agreed to establish a joint venture in the form of a limited liability company that will hold field development licenses.
OAO “Gazpromneft” will own a 51% stake in the joint venture, OAO “LUKOIL” will have 49%. The joint venture will be managed on a parity basis.

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