One-Page Deal Sheet
Conoco Lets go of Interest to Lukoil
Not Disclosed ConocoPhillips
Announced Date
August 23,2012
Close Date
August 22,2012
Transaction Type
Property
Asset/Basin:
{Timan-Pechora}
Location
Region
Russia
Country
Russian Federation
Transaction Details: Subscribe to see
ConocoPhillips said it will sell its indirect 30 percent interest in a joint venture in Russia to partner Lukoil, making Russia’s second oil producer the sole owner of the the NaryanMarNefteGaz project.
ConocoPhillips has announced it will sell its indirect 30 percent interest in a Russian joint venture to privately owned Lukoil as part of a divestment program.
The sale is part of ConocoPhillips’ plan to increase value for shareholders through disciplined capital investment, improved returns on capital and growth in shareholder distribution. LUKoil stated, "The acquisition gives LUKoil 100%…
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