LUKoil move into Slovenia, join with GAZPROM in Columbian investment

Lukoil's CEO Vagit Alekperov was in Ljubljana on Thursday, 18 May to meet the Economics Minister Andrej Vizjak to discuss buying the state ownd Nafta Lendava oil company group.He also met the Prime Minister Janez Jansa (see pic) to further discuss port operator Luka Koper and petrol retailer Petrol. Slovenia (pop 2 Mn) will act as as EU president in the first half of 2008 and the Prime MInister said energy will be one of their principal concerns ...although it will loom ever larger as an agenda item within the EU until then after the total shambles of the Emissions Trading Scheme.

The government wants to sell Nafta Lendava and sees Lukoil's initiative as one of the possible ways to privatise it, Vizjak added.

"This powerful Russian company could solve some of the Slovenian economy's key problems, especially regarding a long-term reliable supply of oil derivatives," explained the man directing the economy of an EU state..

Slovenia has always been the most prosperous region of the former Yugoslavia and has found the transition from a socialist economy to the capitalist free market easier than most. It will adopt the Euro from January 1st. 2007

Lukoil also expressed interest in the infrastructure on the Slovenian coast, where they would be interested in setting up their own logistics centre for this part of Europe, the minister added.There are continuing border rumbles about access to the Adriatic with Croatia but not of a great deal of significance.

South America sees the Russians even more active in energy supplies.

Meanwhile in Moscow LUKoil and Gazprom are planning to expansion in Colombia, the Russian Industry & Energy Ministry said in a press release after a meeting of the Russian-Colombian Commission on Trade and Scientific Cooperation from May 15-16 in Moscow. “In discussing the prospects for mutual action in the oil and gas sectors, the parties agreed to discuss expanding cooperation with Russian companies, including between LUKoil, Ecopetrol and the National Hydrocarbon Agency to jointly implement new projects on search and exploration in Colombia,” the release read.

In April 2006, eight companies, including LUKoil, ExxonMobil, BP, Chevron, made it into the final part of a competition to take part in a project organised by Colombian state-run Ecopetrol to develop heavy oil fields. Ecopetrol accounts for about 60 % of the 526,000 BPD produced in Colombia. Colombia’s Meta province can produce up to 200,000 BPD

LUKoil Overseas and Ecopetrol signed a contract for the Condor bock on April 7, 2002.

The block area amounts to 3,089 square km. The share of LUKoil Oveseas in the project is 70%nt, and Ecopetrol - 30%. LUKoil Overseas Colombia Ltd. is the operator of the project..