Lukoil Will Contribute € 6.2 Billion to Lukoil International to Finance Investments Abroad
The Board of Directors of “Lukoil” offers shareholders at an extraordinary meeting on December 4 to approve a deal to make a cash contribution to the charter capital of Lukoil International in the amount of € 6.2 billion, according to the company’s materials for the meeting.
“The purpose of making this contribution is to ensure the necessary level of its own sources of financing for the investment program for the development of the activities of the Lukoil group abroad,” the materials say.
According to the materials, an additional cash contribution of € 6.2 billion is made to increase the company’s charter capital by € 150,000, with the nominal value of the stake in PJSC Lukoil increasing by € 150,000. After making an additional contribution, the nominal value of the stake in PJSC Lukoil “in the authorized capital of Lukoil International GmbH will be € 300 thousand.
“Lukoil” through its foreign daughter – Lukoil International Upstream Holding B.V. – won the tender for Block 12 on the shelf of the Gulf of Mexico. Three more blocks, which Eni won at the same auction, entered Lukoil as a partner. In these projects, Lukoil has an unofficial share.
Earlier, the head of Lukoil, Vagit Alekperov, reported that Lukoil is discussing new mining projects in Mexico with the state Pemex, US sanctions do not interfere with the work of the Russian company on the shelf of the Gulf of Mexico. Previously, he estimated investments in Mexican plots amounting to $ 250 million.
