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President Nazarbayev meets LUKOIL President

04 february 2013, 19:49
LUKOIL President Vagit Alekperov.  © RIA Novosti
LUKOIL President Vagit Alekperov. © RIA Novosti
Kazakhstan’s Head of State Nursultan Nazarbayev has met Russia’s LUKOIL President Vagit Alekperov, President Nazarbayev’s Press Service reports.

President Nazarbayev emphasized that LUKOIL is the biggest Russia’s investor in Kazakhstan’s oil and gas sector and the two sides should further cooperation.

Mr. Alekperov pointed out that thanks to President Nazarbayev’s support, the Company had been operating in Kazakhstan for 20 years and invested about $7 billion. LUKOIL has been actively involved in a number of projects, including a project to construct a plant producing 100 000 tons of lubricants a year in the South of Kazakhstan.

According to the Company’s website, the Company is responsible for 16.6% of Russian oil production and 17.7% of Russian oil refining. It is the largest Russian oil business group with sales of over US$133 billion and net income of over US$10 billion and the first Russian company to receive full listing on the London Stock Exchange.

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