Marathon completes sale of Russian businesses to LUKOIL
Posted: 05 June 2006
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Marathon Oil said that it has completed the sale of its Russian oil exploration and production businesses in the Khanty-Mansiysk Region of Western Siberia to OAO LUKOIL.
Under the terms of the agreement, signed and announced on May 15, 2006, LUKOIL has paid Marathon $787 million for these businesses, plus preliminary working capital and other closing adjustments of approximately $66 million, for a total transaction value of $853 million.
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