ODESA, MARCH 30th, 2013, CONTEXT-PRICHERNOMORIE ― Yesterday, 29 March, full-scale start-up works for the return to production of PJSC “Odesa Oil Refinery” has been launched, Context-Prichernomorie correspondent reports.

In the ceremonial of the trial run participated the chairman of the VETEK Sergei Kurchenko, Minister of Energy and Coal Industry of Ukraine Eduard Stavitsky, chairman of the Odesa Regional State Administration Eduard Matviychuk, Vice President for sales and supplies of PJSC LUKOIL Valery Subbotin. They symbolically pressed the button to start the installation of primary oil processing.

Also employees of the company, the representatives of the Odesa Regional State Administration and the media presented at the event.

As it was noted, in the near future at the refinery will be carried out works on testing and debug of all production units, automated control systems and emergency protection.

4 March, 2013, the press office noted that the VETEK group and LUKOIL signed an agreement for the sale of PJSC “Odesa Oil Refinery”. By way of the deal VETEK takes up 99.6% shares. The transaction is expected to close prior to 1 June, 2013 after the parties fulfill precedent conditions. LUKOIL decided to sell the Odesa Refinery under the approved restructuring plan of foreign oil assets.

INFORMATION: LLC Eastern-European Fuel and Energy Company (VETEK) has been registered on February 28, 2013, in Kyiv. The company is headed by Andriy Koshel, the company office is located in the Arena City complex. VETEK unites energy assets, possessed by Sergei Kurchenko, founder of the Gas Ukraine group of companies.

Odesa Oil Refinery was put into operation in 1937 as a cracking plant. In 2000 it was renamed to OJSC Lukoil Odesa Oil Refinery. 97 % of the shares are held by Lukoil – a Russian oil company. After a long reconstruction the plant’s operation was resumed on 18 April 2008. As the result of its reconstruction its processing depth was increased from 56 % to 80 %, while its production capacity remained 2,8 million tons per year.