PJSC LUKOIL announces that LITASCO S.A., 100% subsidiary of LUKOIL, and G.O.I. ENERGY LIMITED (hereinafter "G.O.I. ENERGY") reached an agreement regarding the sale of ISAB S.r.L. (hereinafter "ISAB") to G.O.I. ENERGY. The transaction is planned to be completed by the end of March 2023 upon fulfilment of certain conditions precedent including receipt of necessary approvals of competent authorities, particularly the Italian Government.

ISAB S.r.L. owns a large petrochemical complex in Italy combining refining (ISAB North and ISAB South), gasification and electricity cogeneration plants.

For the efficient operation of the complex after its acquisition G.O.I. ENERGY formed a partnership with TRAFIGURA, one of the world's largest international traders of oil and petroleum products, w​hich secures uninterrupted feedstock supplies to the refinery and provides for production offtake as well as necessary working capital level. The new owner will retain jobs and ensure health and safety conditions.

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LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally. LUKOIL enjoys a full production cycle to control the entire value chain from upstream to downstream. LUKOIL employs over 110 thousand people who join their efforts and talents to secure the Company’s market leadership.