OAO LUKOIL agreed to purchase a 45% stake in TRN refinery in the Netherlands from Total.

The transaction amount is expected to be approximately USD 725 million, including inventory. The transaction closing is expected to take place before the end of this year upon completion of certain standard conditions precedent.

This transaction contributes to the development of a broader strategic partnership between LUKOIL and Total.

“A new downstream acquisition in Western Europe organically fits in our Company’s strategy aimed at increasing oil refining capacities located in the immediate proximity to the markets where products with higher added value are sold,” President of OAO LUKOIL  Vagit Alekperov said.