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Lukoil wins tender for oil exploration in Romania's part of Black Sea
07.07.2010
A consortium of companies made up of Lukoil Overseas (a full subsidiary of the Russian oil giant Lukoil) and U.S. Vanco International has won a tender for the exploration and development of two oil blocks in the Romanian sector of the Black Sea. Lukoil owns an 80-percent stake in the consortium, and Vanco - another 20 percent, the company announced in a statement today.
According to the terms of the tender, Lukoil Overseas is expected to sign a concession agreement with Romania's National Mineral Resources Agency. The company is also set to open a representative office in Romania to manage the project.
www.rbcnews.com
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