Lukoil discusses lubricants plant with Kazakhstan president
Lukoil Chief Vagit Alekperov discussed the possibility of building a lubricants plant in Kazakhstan at a recent meeting with Kazakh President Nursultan Nazarbayev. The plant has a potential annual capacity of 100,000 tons.
The two also discussed Lukoil’s further plans in the country, in particular exploration and production. Nazarbayev also hoped to discuss obtaining assistance in other business sectors.
“Lukoil’s initiatives received the Kazakh president’s understanding and support,” the company said. This is not surprising, since Lukoil is the largest Russian investor in Kazakhstan in the oil and gas industries, with investments in the order of US$7 billion.
Lukoil’s Kazakhstan projects began in 1995 with the signing of a contract for developing the northern part of the Kumkol field. Today, Lukoil participates in seven major production, exploration and infrastructure projects, including an offshore exploration project in the Attash area. Lukoil also participates in the Caspian Pipeline Consortium. The Kazakhstan projects produce around 10% of Lukoil’s oil. (February 5, 2013)
