Exxon Mobil has joined Chevron in exploring options to acquire parts of Russian oil company Lukoil’s international assets, sources familiar with the matter said. Exxon is looking at Lukoil’s holdings in Kazakhstan, including stakes in the Karachaganak and Tengiz fields, where both US companies and Lukoil are partners. Chevron is also evaluating the same assets.
Exxon may also consider bidding for Lukoil’s West Qurna 2 field in Iraq, the Russian firm’s most valuable asset. Exxon previously operated the neighbouring West Qurna 1 project before exiting last year.
The list of potential buyers has expanded since the US Treasury last Friday authorised companies to begin talks with Lukoil, with the clearance valid until December 13. Bloomberg reported that Abu Dhabi National Oil Company is also interested in the assets.
