LUKOIL transferred 8% in the Black Sea shelf project to Romgaz

LUKOIL Overseas, subsidiary of the OJSC LUKOIL, has signed documents on the closing of the deal on the transfer of the eight percent share in concession agreement for exploration and development of carbohydrates in the Romanian sector of the Black Sea in favor of the national gas company Romgaz.

This share includes «Est Rapsodia» and «Trident».

Until now both «Est Rapsodia» and «Trident» projects have been implemented by a consortium of LUKOIL Overseas (80%, operator) and American Vanco International (20%). Both companies have transferred to Romgaz a total of 10% of the share. Thus, at present LUKOIL Overseas has a share of 72%, Vanco International – 18%, Romgaz –10%.

English Translation by BSN
Adapted from: Forbes