Russia's Federal Antimonopoly Service granted the application of LUKOIL EPU Service LLC for the purchase of a 50% equity stake in RITEK - Innovative Technological Center LLC, the regulatory body informed.
As a result of this transaction, LUKOIL EPU Service will consolidate 100% in RITEK-ITEC.
LUKOIL EPU Service LLC provides services related to oil and production activities.
RITEK - Innovative Technological Center LLC manufactures valve electric drives.
Both LUKOIL EPU Service and RITEK - Innovative Technological Center are parts of the LUKOIL group of companies.
OAO LUKOIL (tax number: 7708004767) is Russia's second largest oil producer. In 2013, LUKOIL increased production of hydrocarbons to 116.6 million tones. As of December 31, 2013, the company's proven SEC compliant reserves totaled 17.4 billion barrels of oil equivalent including 13.5 billion barrels of oil and 23.6 trillion cubic feet of gas.
The company's authorized capital is RUB 21,264,081.375 represented by 850,563,255 common shares at par value of RUB 0.025 currently in circulation. The largest block of the company's shares is owned by its management.
US GAAP net profit of OAO LUKOIL for 2013 decreased by 30% to $7.627 billion from $10 925 billion the year before. Sales revenue increased by 1.6% year-on-year to $141.452 billion. EBITDA (earnings before interest, income tax, depreciation, and amortization) totaled $16.668 billion.
RAS net profit of LUKOIL in 2013 decreased by 4% to RUB 209.87 billion. The company's revenue decreased by 9% to RUB 280.008 billion from RUB 308.067 billion the year before.