"LUKOIL" RUSSIAN OIL COMPANY GOING TO QUIT SOME AZERI PROJECTS

November 6, 2002 - 18:11 AMT
PanARMENIAN.Net - "LukOil" Russian oil company is going to quit a number of Azeri projects. "Media Press" agency reported it referring to an anonymous representative of "LukOil." In the source's words, the decision is due to the fact that company intends to review its priorities, focusing its attention on the northern part of the Caspian basin. At present "LukOil" is the operator of two Azeri projects: "Ovsanna" and "Yalama," holding half of the shares of each of them. On this occasion the Azeri State Oil Company head Natik Aliyev said that if "LukOil" really intended to act that way, it should give up the thought of arranging anything in Azerbaijan in the future.
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