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
- ARCO, LUKoil Sign Summary Shareholders Agreement, Detailed Financing Terms for LUKARCO Joint Venture^
- Lorraine Turner. BP says Lukoil buys out stake in CPC pipeline JV Reuters, 2009-09-11, retrieved 2009-09-12^
- ARCO, LUKOIL Formalize Joint Venture Agreement; First Investment is in Caspian Pipeline Consortium; Negotiations Proceed for Tengiz Oil Field Involvement^
- LUKARCO Acquires 5% Interest in Tengiz Oil Field from Chevron^
- Kate Watters. Sidestepping the Sanctions on Russia Inkstick, October 4, 2022^