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Friday, 04 April 2003
LUKOIL INCREASES STAKE IN AZERBAIJANI OIL PROJECT
By empty (4/4/2003 issue of the CACI Analyst)
The presidents of LUKoil and Azerbaijan\'s state oil company SOCAR, Vagit Alekperov and Natik Aliev, signed an agreement in Baku on 4 April under which LUKoil will acquire from SOCAR a further 20 percent stake in the consortium created in 1997 to explore and develop the offshore D-222 (Yalama) Caspian block. Initially LUKoil had a 60 percent stake and SOCAR a 40 percent stake in that project. (ITAR-TASS).
The presidents of LUKoil and Azerbaijan\'s state oil company SOCAR, Vagit Alekperov and Natik Aliev, signed an agreement in Baku on 4 April under which LUKoil will acquire from SOCAR a further 20 percent stake in the consortium created in 1997 to explore and develop the offshore D-222 (Yalama) Caspian block. Initially LUKoil had a 60 percent stake and SOCAR a 40 percent stake in that project. (ITAR-TASS)