LukArco

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LukArco B.V. is a subsidiary of the Russian oil company Lukoil. It was formed in February 1997 as a joint venture between Lukoil and the former American oil company ARCO.[1] In 2000, Arco merged with the UK oil company BP, and since BP became a shareholder of LukArco with 46% shares. In December 2009, BP sold its stake to Lukoil and thereafter Lukoil became a sole shareholder of LukArco.[2]

LukArco is a partner in the Caspian Pipeline Consortium with a shareholding of 12,5% [3], and is a partner in the consortium Tengizchevroil (TCO) [4].

References

  1. ↑ ARCO, LUKoil Sign Summary Shareholders Agreement, Detailed Financing Terms for LUKARCO Joint Venture
  2. ↑ Turner, Lorraine (2009-09-11). "BP says Lukoil buys out stake in CPC pipeline JV". Reuters. http://uk.reuters.com/article/idUKGEE5BA27N20091211. Retrieved 2009-09-12.
  3. ↑ ARCO, LUKOIL Formalize Joint Venture Agreement; First Investment is in Caspian Pipeline Consortium; Negotiations Proceed for Tengiz Oil Field Involvement
  4. ↑ LUKARCO Acquires 5% Interest in Tengiz Oil Field from Chevron
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