Shah Deniz Stage 2

Provision of a long-term debt to Lukoil Overseas Shah Deniz Ltd (LOSD, Borrower, Company) for the Borrower's share in the second stage of the exploration and production project aiming to further develop the Shah Deniz offshore gas and condensate field in Azerbaijan (Project). The Shah Deniz offshore gas and condensate field (Shah Deniz or SD) is situated in the South Caspian Sea. It is the largest natural gas field in Azerbaijan and one of the largest gas fields in the world. It commenced the production in 2006 (Shah Deniz Stage 1). The proposed investment is a continued field development of the Shah Deniz that will add a further 16.0 billion cubic meters of gas production per annum (bcma) to the existing capacity of around 10.0 bcma currently available under the Shah Deniz Stage 1.
Details of financing scheme: The official amount contributed is 66M USD.