ST PETERSBURG — Lukoil, a major Russian oil company, has signed an agreement with US investment firm Carlyle on the sale of Lukoil International GmbH, a wholly owned subsidiary that holds the group’s overseas assets, the company said in a statement on Thursday.
The deal does not include its assets in Kazakhstan, which will remain under the ownership of the Lukoil Group and continue operating in accordance with existing licenses, said Lukoil.
The agreement is non-exclusive and subject to the fulfillment of a number of conditions precedent, including authorization for the transaction from the US Treasury Department, it said, adding that it is also continuing negotiations with other potential buyers.
The company said the decision to sell Lukoil International GmbH is linked to restrictive measures imposed by certain countries against Lukoil and its subsidiaries.
Lukoil is one of Russia’s largest integrated oil and gas companies, with operations spanning hydrocarbon exploration, production, refining and marketing.
Carlyle is a global investment firm headquartered in the United States, managing assets across private equity, credit and investment solutions in multiple regions worldwide.