Lukoil to sell its interest in National Oil Consortium to Rosneft
Lukoil to sell its interest in National Oil Consortium to Rosneft
MOSCOW, Russia -- Lukoil and Rosneft Petroleum have signed a package of legally binding documents regarding the sale of Lukoil’s interest in National Oil Consortium (NOC), in Moscow.
Lukoil intends to sell its 20% stake in the authorized capital of the NOC, established by Russian oil companies in October of 2008 as part of the joint Russian-Venezuelan economic promotion. In 2010, the NOC and the Venezuelan company PDVSA registered a JV, PetroMiranda, to develop the Junin-6 block in the Orinoco heavy-oil belt.
Due to this deal, the share of Rosneft in the charter capital of NOC will increase to 80%, with the remaining 20% owned by Gazprom Neft.
