LUKOIL, Rostelecom to cooperate in telecommunications

LUKOIL, as its corporate website reports, agreed to cooperate with Rostelecom, the largest provider of digital services in Russia, in the area of telecommunication services.


The cooperation is based on the agreement of Rostelecom to buy a 50.1% share in LUKOIL-INFORM, a wholly-owned subsidiary of LUKOIL which provides telecommunication and IT support services to Russian-based entities of the LUKOIL Group. The concluded agreements provide for sale of the remaining 49.9% share in LUKOIL-INFORM to Rostelecom in 2023.

The above agreements with Rostelecom are in line with the LUKOIL Group’s strategy for optimizing its business processes, reducing non-core activities and outsourcing services from professional market players.

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