Lukoil to sell its foreign assets to US-Carlyle

Lukoil has reached an agreement with U.S. investment company Carlyle to sell Lukoil International GmbH, which owns its foreign assets, Russia’s oil major announced.

The deal is not exclusive as Lukoil continues negotiations with other potential buyers, the company noted.

"The agreement signed is not exclusive for the Company and is subject to some conditions precedent such as procurement of necessary regulatory approvals including permission of the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) for the transaction with Carlyle," Lukoil said.

The agreement signed is subject to some precedent conditions, including obtaining necessary regulatory approvals, including permission of the US Department of the Treasury's Office of Foreign Assets Control (OFAC) for the transaction with Carlyle.

The deal does not include any projects in Kazakhstan and is conditional on a number of approvals, including from U.S. authorities.

Lukoil said it was continuing negotiations with other potential buyers.