LUKOIL Overseas Holding Ltd. was created in November 1997 and incorporated on December 4, 1997 in accordance with the resolution of LUKOIL executive board to enhance the quality of managing international assets. Later LUKOIL's shares in a number of large international projects were transferred to the newly established subsidiary.

Today business units of the company in 22 countries of the world employ about 4,000 people. The company manages 27 oil and gas exploration and production projects.

As of January 1, 2012 the volume of audited proved reserves of LUKOIL Overseas stands at 1.4 billion boe. Based on the results of 2011, Company's EBITDA amounted to $1.6 billion, net profit was $0.7 billion and hydrocarbons production reached 61.1 mln. boe.

Based on the results of 11 months of the year, in 2012 the company plans to produce 72 mln. boe (18% annual increase). Average annual rate of hydrocarbons production growth in 2007-2011 reached nearly 5%. LUKOIL Overseas plans to increase its production more than twofold over the next 3 years.

As President of LUKOIL Vagit Alekperov said, “LUKOIL Overseas is an important factor of LUKOIL's successful growth and one of the tools for implementing the global strategy of the Company and its transformation into a large transnational corporation”.

“Operating in most important petroleum provinces of the world in extremely tough competition for the access to effective reserves LUKOIL Overseas complies with the highest world standards, implements modern production, management and HR technologies as well as provides for industrial safety, environmental protection and corporate social responsibility”.