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    • LukOil to sell stake in Caspian Investment

    — April 15, 2014
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    LukOil has agreed to sell its 50% stake in Caspian Investment Resources Ltd to China’s Sinopec for around $1.2bn, subject to adjustments at closing.

    Caspian Investment Resources, through a number of joint ventures, owns various stakes in four hydrocarbon-production projects in Kazakhstan.

    LukOil’s share in commercial hydrocarbon production as part of the projects equalled 10.2 million barrels of oil equivalent in 2013.

    LukOil will continue to participate in Kazakhstan hydrocarbon-production projects, including Kumkol, Karachaganak and Tengiz. The company is also a member of the Caspian Pipeline Consortium.

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