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LukArco

LukArco B.V.
IndustryOil and gas
FoundedFebruary 1997
ParentLukoil

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 BP became a shareholder of LukArco with a 46% stake. In December 2009, BP sold its stake to Lukoil, making Lukoil the 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] LukArco owns a 5 percent share at Tengiz.[5]

References

  1. ^ ARCO, LUKoil Sign Summary Shareholders Agreement, Detailed Financing Terms for LUKARCO Joint Venture Archived 2011-06-08 at the Wayback Machine
  2. ^ Turner, Lorraine (2009-09-11). "BP says Lukoil buys out stake in CPC pipeline JV". Reuters. Archived from the original on December 15, 2009. 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 Archived 2007-10-11 at the Wayback Machine
  4. ^ LUKARCO Acquires 5% Interest in Tengiz Oil Field from Chevron Archived 2011-06-08 at the Wayback Machine
  5. ^ Watters, Kate (October 4, 2022). "Sidestepping the Sanctions on Russia". Inkstick.


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