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.

 

READ MORE...

Russia’s Lukoil targets 'massive' Middle East expansion

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?