Lukoil has sold 20% in National Oil Consortium to Rosneft

​Lukoil has sold a stake in the National Oil Consortium to Rosneft for 8.424 bln roubles (about $140 mln), is said in Lukoil’s report under RAS.

In December 2014 Lukoil announced of the sale of 20% in National Oil Consortium LLC working at the Khunin-6 block in Venezuela. After the completion of the deal Rosneft will increase its stake in National Oil Consortium to 80%.

National Oil Consortium holds 40% (60% belong to the Government owned PDVSA) in the Khunin-6 deposit, the resources of which are assessed at 195 mln tons, investment into the development – at $25 bln.

Initially all the leading Russian oil companies were in the structure of the consortium with equal stakes: Rosneft, Lukoil, Surgutneftegas, TNK-BP and Gazprom Neft. Each had 20% having paid $200 mln.