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
Top: Unveiling ceremony: (l-r) President
Aliyev, LUKoil's Alakbarov, Academy of Science: F. Magsudov.
sponsor the monument to academician Yusif Mammadaliyev. President
Aliyev looks on.
(7.1) Spring 1999.
© Azerbaijan International 1999. All rights reserved.
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AI 7.1 (Spring 99)
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