LUKoil plans to invest $ 400 mm in Turkey

LUKoil plans to make $ 400 mm investment in Turkey in the following decade.
"With this investment, we are planning to develop our oil network in Turkey and raise our market share to 10 %," LUKoil's president Vagit Alekperov said in the Turkish city of Istanbul. The president of LUKoil signed an agreement with owners of Turkey's Akpet oil company in July 2008 to acquire the Turkish company.

Alekperov also said that Russian gas company Gazprom promised LUKoil to bring natural gas to Turkey, and they would transport gas to Turkey and distribute it in the country. The president of the company also said that LUKoil was planning to make $ 8 bn of investment throughout the world in 2009.
One of the world's leading vertically integrated oil and gas companies, LUKoil mainly explores and produces oil and gas, produces petroleum products and petrochemicals, and markets these outputs.

Most of the company's exploration and production activity is located in Russia, and its main resource base is in Western Siberia. LUKoil owns modern refineries, gas processing and petrochemical plants located in Russia, Eastern Europe and near-abroad countries. Most of the company's production is sold on the international market.
At the beginning of 2008 the company's marketing network encompassed 24 countries, including Russia, the near-abroad and European countries (Azerbaijan, Belarus, Georgia, Moldova, Ukraine, Bulgaria, Hungary, Finland, Estonia, Latvia, Lithuania, Poland, Serbia, Montenegro, Romania, Macedonia, Turkey, Belgium, Luxemburg, Czech Republic, and Slovakia) as well as the USA and includes 197 tank farm facilities with total capacity of 3.11 mm cm as well as 6,090 filling stations, including franchises.