Romgaz assigned 10% stake in Black Sea projects by Lukoil, Vanco

11/26/2012

Romgaz assigned 10% stake in Black Sea projects by Lukoil, Vanco

BY JAMES MARSON

MOSCOW -- Lukoil Holdings has signed a deal to reassign an 8% share in two blocks in the Romanian sector of the Black Sea to Romgaz.

Romgaz received a further 2% stake from Lukoil Holdings partner Vanco , Lukoil said in a statement. Lukoil will now have a 72% stake in the project, while Vanco will have 18% and Romgaz 10%. Lukoil Holdings didn't provide an explanation for the stake reassignment. Lukoil Holdings and Vanco won bids on the Est Rapsodia and Trident blocks in 2010 and signed concession agreements with the Romanian government in 2011.

Dow Jones Newswires

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