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Lukoil JV Moves Forward in Saudi Arabia

LUKSAR has held its first board of directors meeting in Saudi Arabia...

Lukoil JV Moves Forward in Saudi Arabia

LUKSAR has held its first board of directors meeting in Saudi Arabia. The company is a joint venture between LUKoil Overseas and the Saudi Aramco oil corporation.

The LUKSAR company has been set up to prospect in and develop gas bloc A in the northern part of the Rub al Khali desert.

In the joint enterprise, LUKoil owns 80 per cent of shares and Aramco owns 20 per cent of shares.

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