Azerbaijan International

Spring 1999 (7.1)
Page 92

SOCAR Section

LUKoil in Azerbaijan - Yusif Mammadaliyev monumentLUKoil began its involvement in Azerbaijan in 1994 as a member of the AIOC Consortium (10%) for the Azeri, Chirag and deep-water Gunashli block. LUKoil is also involved with Shah Daniz (10%) and the D-222 (Yalama) block (60% as LUKAgip). Throughout Baku, LUKoil has a network of petrol stations, and is making plans to expand that service. Another entity, LUKOIL-BAKU Trade House, is involved with the modernization of vessels, construction and the services of drilling rigs.

In 1996 LUKoil established a Charity Fund to help Azerbaijan's refugees and the poor. So far, $1.4 million has been allocated to this project. LUKoil also sponsored a monument unveiled recently at the Academy of Sciences to honor the distinguished scientist and founder of Azerbaijan's oil chemistry, Yusif Mammadaliyev.

In spite of complicated economic conditions, LUKoil plans to continue its close collaboration with Azerbaijan in the oil industry and in other fields.

Top: Unveiling ceremony: (l-r) President Aliyev, LUKoil's Alakbarov, Academy of Science: F. Magsudov.

Bottom: LUKoil helped sponsor the monument to academician Yusif Mammadaliyev. President Aliyev looks on.

From Azerbaijan International (7.1) Spring 1999.
© Azerbaijan International 1999. All rights reserved.

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