Lukoil and a group of investors, with the involvement of UniCredit Bank AG as arranger, have acquired 42.5 million ordinary shares in the form of ADR under the agreement with ConocoPhillips.

By pursuing this transaction, the Company is implementing a program, approved by the Board of Directors, to raise shareholder returns by way of buying its shares back from the market.

'This transaction helps us to steadily implement the program to enhance the Company's investment attractiveness. It also allows us to support our share prices, since the transaction is funded by the Group's internal resources, without increasing the Company's total debt', Leonid Fedun, OAO Lukoil Vice President, said.

Tags: Lukoil