Vagit Alekperov

Vagit Alekperov has been Lukoil’s president and CEO since 1993. Prior to that, he had been working in the oil industry in Azerbaijan and Western Siberia since 1968. Some of his previous roles include general director of the Production Association Kogalymneftegaz of Glavtyumenneftegaz of the USSR ministry of oil and gas from 1987 to 1990, First Deputy Minister of the USSR ministry of oil and gas from 1990 to 1991 and president of the Langepasuraikogalymneft oil concern from 1992 to 1993, giving him extensive knowledge of the region’s oil and gas sector. Thus, Alekperov added a lot of value to Lukoil which has been reflected in the company’s performance and operations over the years. Today, it is considered one of the major international companies, which accounts for more than 2% of the world’s oil production and around 1% of the proven hydrocarbon reserves. In the Middle East, Lukoil was awarded, along with Statoil, the concession to operate Iraq’s West Qurna II in 2009. The field, one of the world’s largest with about 14bn barrels recoverable reserves, is located in the southern part of Iraq, 65km north-west of Basra.