Lukoil

LUKOIL
www.lukoil.com

Contact Information|
1, Sretensky Blvd.
Moscow, Russia 101000
T/F: +7 495 627 4444; +7 495 625 7016

History in Turkmenistan
In 2005, Lukoil’s CEO Vagit Alekperov met with Niyazov to discuss prospects for future collaboration, however the government of Turkmenistan did not agree to Lukoil’s proposal to collaborate with Dragon Oil.[i]

As noted in the profile on ConocoPhillips, it was widely reported in the media in June 2007 that Berdymukhammedov and Lukoil’s Alekperov had reached an agreement under which Lukoil would have the rights to operate three offshore fields.[ii] According to September 2007 reports, Lukoil and ConocoPhillips were negotiating for fifty percent ownership of blocks No. 19, 20 and 21, and Lukoil’s Alekperov was quoted, “We hope that the contract will be signed by the end of the year.”[iii]

However, Lukoil released a press service statement in December 2007 stating, “information released by some mass media with reference to a Company representative alleging that LUKOIL signed a provisional agreement with the Republic of Turkmenistan on development of three offshore blocks in the Caspian is not true. In the meantime, LUKOIL with its partner ConocoPhillips are involved in negotiations with the government of Turkmenistan on joining several oil and gas projects in the Republic.”[iv]

In April 2009, Lukoil reported that Turkmenistan had suspended negotiation for Blocks 19 and 21.[v]

Current Scope of Operations
In 2009, Lukoil began lubricant sales in Turkmenistan.[vi]

Turkmenistan’s August 2010 announcement of the companies shortlisted to submit proposals to develop Blocks 9 and 20 notably did not include Lukoil, which had been negotiating for these blocks for a number of years.[vii]

————————————————————————————————————————-

[i] Lukoil, Press Release: Vagit Alekperov Visits Turkmenistan, 8 Jun. 2005,http://www.lukoil.com/press.asp?div_id=1&id=2352. Accessed February 14, 2011.

[ii] Associated Press, “Lukoil Gains Rights to Caspian Sea Energy Fields: Reports,” 13 Jun. 2007,http://www.cnbc.com/id/19202161/. Accessed September 19, 2008.

[iii] New Europe (22 Sept. 2007).

[iv] Lukoil, Press-Release, 13 Dec. 2007, http://www.lukoil.com/press.asp?div_id=1&id=2798. Accessed September 19, 2008.

[v] International oil letter, “Lukoil has Block Negotiations Suspended – Turkmenistan,” IHS. Vol. 25: 16. 20 Apr. 2009, http://energy.ihs.com/News/oil-gas-exploration/2009/Lukoil-Turkmenistan-042409.htm. Accessed February 14, 2011.

[vi] Lukoil, Oils and Lubricantshttp://www.lukoil.com/static.asp?id=58. Accessed February 14, 2011.

[vii] Catherine A. Fitzpatrick, “Lukoil Left out in Turkmenistan,” Eurasianet.org, 24 Aug. 2010,http://www.eurasianet.org/node/61790. Accessed February 14, 2011.