LUKOIL Friday, December 10, 2021
<_a103a_updated style="display: none"> { 12/10/2021 1:04:52 PM }PJSC "LUKOIL" announces the signing of amendments to the agreement concluded in October 2021 on the acquisition of a share in the Shah Deniz project from PETRONAS. In accordance with the new arrangements, the share acquired by LUKOIL is reduced from 15.5% to 9.99% with proportional decrease in the transaction value from $2.25 billion to $1.45 billion. The conclusion of the amendments resulted from negotiations with the Shah Deniz project partners on implementation of pre-emptive rights.
The deal is expected to be closed in January 2022.
The project is implemented under a PSA; commercial production there began in 2006. In 2020, Shah Deniz consortium extracted 18.1 bcm of gas and 3.6 million tonnes of gas condensate. LUKOIL's share in the project is currently 10%.
In 2018, the second stage of the project was launched, with annual production expected to reach 26 bcm of gas and 5 million tonnes of gas condensate. The gas is sold on the markets of Azerbaijan, Georgia, and Turkey. Since December 2020, it is also delivered to Europe via a pipeline system.
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PJSC "LUKOIL" (hereinafter, the Company and/or LUKOIL) announces the conclusion of the results of the Extraordinary General Shareholders Meeting (hereinafter, the EGM) held on December 2, 2021 in the form of absentee voting. The Company's shareholders approved the payment of interim dividends on the ordinary shares of PJSC "LUKOIL" based on the results of the first nine months of 2021 in the amount of RUB 340 per share.
LUKOIL Press Service announces that the Company Management Committee decided to appoint General Director of LUKOIL Uzbekistan Operating Company Stepan Gurzhiy as LUKOIL President's Envoy to Azerbaijan, Kazakhstan, Uzbekistan, and Turkmenistan.
Under the second stage of the Production Sharing Agreement of the Shah Deniz Project in Azerbaijan, LUKOIL Overseas Shah Deniz Ltd. (a fully-owned PJSC LUKOIL subsidiary) has signed in Baku a 12 year credit-facility agreement with a consortium of banks to borrow USD 1 billion.
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OAO Lukoil published this content on 10 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 December 2021 10:11:05 UTC.
