SHOTLIST Moscow, 29 September 2004 1. Tilt up Russian Federal Property Fund building 2. Close-up exterior Russian Federal Property Fund name plaque 3. Entrance to Russian Federal Property Fund building 4. Russian state emblem on the wall of auction room 5. Officials and auction participants 6. SOUNDBITE: (Russian) Andrei Sharonov, First Deputy Economic Development and Trade Minister: "The Russian Property Fund has sold at an open auction a 7.59 percent package of Lukoil shares for 1.988 billion (b) dollars (US). As of today, this is the biggest deal in the history of privatisation in the Russian Federation." FILE Azerbaijan, 2000 7. Lukoil oilfields 8. Oil pumps 9. Closeup of oil pump Moscow, 29 September 2004 10. SOUNDBITE: (Russian) Leonid Fedun, Vice-President of Lukoil: "The price that was paid today exceeds by a large amount the mean monthly levels over the past month to three months. This is indicative. No one in the world has so far succeeded in selling such a huge package of shares without a discount." 11. Auction clerks 12. Closeup auction bidding chip 13. ConocoPhillips representatives after the auction 14. Wideshot LUKOIL building 15. Closeup LUKOILname plaque 16. Closeup Russian, American and Moscow flags near LUKOIL building 17. Wideshot press set 18. SOUNDBITE: James Mulva (English) ConocoPhillips CEO "Each time wherever we invest around the world there are commercial risk and there is technical risk and there is political risk. So, wherever we are and operate around the world we have political risk, so we certainly take that into consideration." FILE Azerbaijan, 1996 19. Wideshot LUKOIL oil fields in Azerbaijan 20. Closeup oil pump engine 21. Midshot oil pump Moscow, 29 September 2004 22. SOUNDBITE: (English) James Mulva, ConocoPhillips CEO "ConocoPhilips would like to increase its ownership to 10% by the end of this year, 2004. And then we would like to give it market conditions and all the other opportunities we have as a company, increase our ownership to 20%. That is done at our discretion. It can be to open market purchases, tender offers, combinations of that. But I would say for guidance purposes, that's probably something that takes place over 2 or 3-year period of time." 23. Wideshot LUKOIL gas station 24. Midshot LUKOIL gas station worker 25. Midshot cars on LUKOIL gas station 26. Midshot journalists at press-conference 27. SOUNDBITE: (Russian) Vagit Alekperov, LUKOIL President "As for YUKOS assets, we do not consider the question of acquisition of YUKOS assets, because you cannot consider what is not for sale. At least not yet." 28. Closeup flags of ConocoPhilips and the USA 29. Zoom out Vagit Alekperov and James Mulva shake hands STORYLINE: In a deal paving the way for future joint ventures, US oil giant ConocoPhillips on Wednesday paid nearly 2 (b) billion US dollars for the Russian government's remaining 7.6 percent stake in Russia's Lukoil, the world's second largest oil company in terms of reserves. In the biggest privatisation in Russia's history, ConocoPhillips bought the stake for 1.988 (b) billion US dollars, only a fraction above starting price, acting through Springtime Holdings Limited, a vehicle company. Immediately after the auction, ConocoPhillips announced that it planned to increase its stake to 20 percent, which would allow it to record a share of the company's reserves of 20.1 (b) billion barrels of oil equivalent in its books. Other applicants at the Lukoil auction included Russia's Promsvyazbank and Promregion Holding, who represented unidentified clients. The auction lasted just over a minute. Recently Lukoil also bought 795 gas stations in the USA from ConocoPhillips. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/d8a8b26b7a33113145f7828902cf913f Find out more about AP Archive: http://www.aparchive.com/HowWeWork

• published: 21 Jul 2015
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