LUKOIL International Services B.V. was established in 2016 as a result of restructuring the system of international projects management in the Upstream segment of the LUKOIL Group.
The year of 1994 marked the start of the Company’s international expansion, when a 10% stake was acquired in the development of Azerbaijan's largest field in the Caspian Sea — Azeri-Chirag-Guneshli. Over 1995—1997, LUKOIL continued its international expansion, joining other oil and gas projects such as Karachaganak, Kumkol and Tengiz (Kazakhstan), Meleiha (Egypt), Shah-Deniz (Azerbaijan).
For the purpose of consolidation of the Company’s upstream projects outside the territory of Russia, LUKOIL Overseas (100% subsidiary of PJSC LUKOIL) was established on 4 December 1997. From 1997 till 2015, LUKOIL Overseas acted as the sole operator of all LUKOIL’s international upstream projects. The activity of LUKOIL Overseas led to creating large international production centers for the Company, in particular, in the Middle East (West Qurna-2 project in Iraq).
By 2012—2013, LUKOIL Overseas was implementing around 30 exploration and production projects in 13 countries worldwide. Apart from the Middle East, the Company was active in such regions as Europe, Asia, Western Africa, and Latin America. In 2014, the share of LUKOIL Overseas in LUKOIL's total oil production reached 10%, while its share in total hydrocarbon production — 13.3%. The Company provided around 25—30% of the LUKOIL Group’s total gas production.
In 2016, a regional model of management of the Company’s international assets in the Upstream segment was implemented. Three large operating hubs were created: in Dubai (Region 1), Houston (Region 2) and Tashkent (Region 3). The hub in Dubai (LUKOIL International Services B.V.) manages oil and gas projects in the Middle East (Iraq, Iran, Egypt, Saudi Arabia).