Lukoil, CNPC Sign Accord on Supplies, Projects, Swaps
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OAO Lukoil and China National Petroleum Corp. plan to expand cooperation on exploration and production in Central Asia and may swap assets in Russia and China as they each seek to expand internationally.
The two companies will also discuss fuel supplies to China, under a partnership accord signed yesterday during Russian President Dmitry Medvedev’s visit to Beijing, Lukoil said in a statement. The accord covers Lukoil and CNPC’s Kumkol and Severnye Buzachi developments in Kazakhstan and the Aral gas project Uzbekistan, and expands on a 2007 agreement.