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MarketScreener Homepage  >  Equities  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  NK Lukoil PAO    LKOH   RU0009024277

NK LUKOIL PAO

(LKOH)
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Russia's Lukoil Acquires Shares From Congo Republic Oil Block

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09/11/2019 | 03:34am EDT

By Emmanuel Tumanjong

Special to Dow Jones Newswires

Russian oil giant Lukoil has bought a 25% stake in Congo Republic oil block Marine XII from New Age M12 Holding, the Central African nation's government said late Tuesday.

The stake purchase, on which negotiations began in June, is valued at $800 million, and increase strategic clout for Lukoil, which is expanding its oil-and-gas tentacles in Africa, including in Cameroon, Ghana and other countries.

The Marine XII block, located 20 kilometers off the Congo Republic's southwestern coast, has Italy's Eni as chief operator, and has already started producing crude. Eni owns a 65% stake on the oil block, while the remaining 10% is controlled by the Congo Republic government.

With reserves estimated at 1.3 billion barrels, the Marine XII block produces 28,000 barrels of crude a day, and 1.7 million cubic meters of gas from the two fields of Nene and Litchendjili.

Write to Barcelona Editors at barcelonaeditors@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL -5.25% 64.48 Delayed Quote.11.63%
NK LUKOIL PAO -2.35% 84.6 Delayed Quote.21.21%
NK LUKOIL PAO End-of-day quote.
WTI -4.02% 59.37 Delayed Quote.21.48%
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Financials (USD)
Sales 2019 116 B
EBIT 2019 11 421 M
Net income 2019 9 071 M
Debt 2019 1 284 M
Yield 2019 4,88%
P/E ratio 2019 7,04x
P/E ratio 2020 6,79x
EV / Sales2019 0,51x
EV / Sales2020 0,47x
Capitalization 57 504 M
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Mean consensus BUY
Number of Analysts 13
Average target price 96,68  $
Last Close Price 86,87  $
Spread / Highest target 32,2%
Spread / Average Target 11,3%
Spread / Lowest Target -43,6%
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Managers
NameTitle
Vagit Yusufovich Alekperov President, Chief Executive Officer & Director
Valery Isaakovich Grayfer Chairman
Ravil Ulfatovich Maganov Vice Chairman & First Executive Vice President
Lyubov Nikolayevna Khoba Director, Chief Accountant & Vice President
Victor Vladimirovich Blazheev Director
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PETROLEO BRASILEIRO SA PETROBRAS18.52%95 071
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