Russian firm Lukoil to shift headquarters to Dubai

lukoil-nuebie flickrLukoil Overseas is responsible for all the company’s non-Russian upstream activities. (Image source: Neubie/Flickr)Russian independent oil and gas company Lukoil has announced that it is moving its international headquarters from Moscow to Dubai

A company spokesperson in Moscow said that the move would begin within weeks and would be completed by the end of 2013, UAE-daily The National reported.

About 400 employees will relocate to UAE as part of the transfer, which will aim to bring executives and staff closer to major assets – chiefly Iraq’s giant oilfield West Qurna-2, located west of Basra.

More than 600 Lukoil employees are already based in the emirate, he added.

Late last year Saadi Al-Jebouri, Lukoil’s Dubai-based executive director for the Middle East, was promoted to senior vice president of Lukoil Overseas.

Lukoil Overseas is responsible for all the company’s non-Russian upstream activities, accounting for about 13 per cent of its overall revenues, according to Lukoil.



Russia’s Lukoil targets 'massive' Middle East expansion

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