LUKOIL has invested $90 mln into JV “Bashneft-polyus”
Edited by Rhod Mackenzie / 2015-03-04 06:41:39
The investments of LUKOIL Group into “Bashneft-polyus” (JV with “Bashneft”) made up $90 million in 2014. TASS reports citing the materials of LUKOIL.
“Bashneft-polyus” is about to produce 900 thousand tons of oil at the Trebs deposit next year. They plan to produce up to 5 million tons of oil a year in future. In December 2014, “Bashneft-polyus” concluded a contract on the sale of oil of Litasco, a trading company of LUKOIL. The contract, worth $898 million has been concluded for a period of 1 year until December 31, 2015. Bashneft and LUKOIL signed an agreement on May 23, 2014. Under the contract an efficient monitoring of the operating and financial statement of “Bashneft-polyus” LLC moved to “Bashneft”.
