Russian oil major OAO Lukoil (LKOH.RS) Friday said it had reached an agreement with ZAO MGNK SoyuzNefteGaz to buy a controlling interest in a group of companies including SoyuzNefteGaz Vostok Ltd.
Russian oil major OAO Lukoil (LKOH.RS) Friday said it had reached an agreement with ZAO MGNK SoyuzNefteGaz to buy a controlling interest in a group of companies including SoyuzNefteGaz Vostok Ltd.
The deal gives Lukoil, Russia's second largest oil producer, access to eight fields in Uzbekistan, with estimated reserves of 100 billion cubic meters.
The agreement was signed for 36 years and requires investment of around $700 million, Lukoil said.
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