NMNGNaryanmarneftegaz, LLC (ConocoPhillips US and LUKoil Russia joint venture)
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NMNG operates a problematic Yuzno-Khylchyiskoye oilfield, which reserves were reassessed following an additional geological study because of the growing waterflood.
We are pleased that LUKOIL, the co-owner of NMNG, recognizes the value of this asset.
The sale of NMNG is just one part of ConocoPhillips' plan to increase value for shareholders through disciplined capital investment, improved returns on capital and growth in shareholder distributions.