Entities close to Lukoil obtain control over BK Eurasia - state legal entities register

MOSCOW. May 19 (Interfax) - Entities friendly with Lukoil have gained control over BK Eurasia (BKE), an asset once spun off from the oil company.

BKE was the key asset of Eurasia Drilling Company Group, which is engaged in exploration and production drilling, sidetracking, and workover services. The group operates mainly in Russia and has several separate projects on the Caspian Sea shelf. The company was created in the mid-1990s on the basis of Lukoil's production assets and was called Lukoil-Drilling until 2004. In 2004, Eurasia Drilling, controlled by Alexander Dzhaparidze and his partners, bought the company and held an IPO in 2007. Subsequently, the shares were bought back from the market, and the company became private again; Schlumberger planned to buy it, but failed to coordinate the deal with the Russian authorities.

A few days ago, BKE was transferred to the ownership of Razvitie Drilling Company LLC, whose beneficiaries included Zubair Salimkhanov, legal director of Petroengineering (51%), and Salikh Gadzhiyev, the main co-owner of Petroengineering (49%). However, changes were made in the Unified State Register of Legal Entities as soon as May 18, and Strategic Development Holding LLC (SDH) became the major owner of Razvitiie with a stake of 29.77%.

SDH owns the "Second Family Fund" closed-end investment fund under the trust management of JSC "MC Business and Investments". At the time of its establishment in 2003, according to the Unified State Register of Legal Entities, Vagit Alekperov owned a 66.5% stake. In 2017, Kommersant reported that his wife Larisa Alekperova controlled 80% in this management company.

At the same time, Ravil Maganov, former first vice president of LUKOIL for many years and currently chairman of the company's board of directors, became a co-owner of Razvitie with a share of 27.12%. Apart from that, former Lukoil Vice President Dzhevan Cheloyants also became a co-owner of Razvitie with a 9.68% stake.

Interfax has not yet been able to obtain a comment from LUKOIL.

Other minority shareholders of BKE's new owner include its former managers Murat Sampiyev and Alexander Bogachev (1.75% and 0.14% respectively) and Medzhid Zulpukarov (0.06%).