Lukoil switches offshore Kazakhstan focus

Lukoil has agreed to sell its 50% stake in Caspian Investment Resources (CIR) to Sinopec for about $1.2 billion.

Offshore staff

MOSCOW – Lukoil has agreed to sell its 50% stake in Caspian Investment Resources (CIR) to Sinopec for about $1.2 billion.

CIR has interests in four hydrocarbon-production projects inKazakhstan.

Lukoil plans to reallocate its resources to exploration projects, including in the Kazakh sector of theCaspian Sea.

04/17/2014

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