LUKOIL has been working in Romania for many years. One of the largest refineries of the company is located in Ploiesti. LUKOIL has a network of about 300 gas stations in Romania. In 2011 Romania became the first European country to host LUKOIL’s upstream projects.
In February 2011 LUKOIL (through its producing subsidiary LUKOIL Overseas) jointly with Vanco International signed Concession Agreements with the National Agency for Mineral Resources of Romania to explore and develop two blocks in the Romanian Sector of the Black Sea, Est Rapsodia and Trident. The blocks are located in water depth ranging from 100 to 1000 m, 60-170 km from the shoreline.
An office of LUKOIL Overseas has been established in Bucharest to manage these projects.