• Lukoil Holdings, Moscow, Russia's second-largest oil producer, will pull out of its Polar Lights joint venture with ConocoPhillips by selling its stake to state oil major Rosneft. Polar Lights produces about 25,000 bbl. of oil a day in the Timan-Pechora region of northern Russia and has 54.17 million bbl. of proved reserves. • Lundin Petroleum AB has acquired a 0.936% working interest in the Salawati Basin production-sharing contract and a 0.52% working interest in the Salawati Island production-sharing contract. The assets are onshore and offshore Indonesia and are operated by PetroChina. The acquired interests produce approximately 2,485 BOE per day, net. • Resolute Energy Inc., Calgary, has sold its Indonesian subsidiary, Equatorial Energy (Indonesia) Inc., for US$18 million. The subsidiary comprises all of Resolute's interests in the Sembakung and Tanjung Lontar technical assistance contracts, as well as associated working capital, and results in a complete exit from Indonesia. • Petro-Canada, Calgary, plans to acquire a 10% share in its operated Guillemot West and North West producing fields in the Central North Sea; its related 3.333% interest in the Triton floating production, storage and offloading vessel; and interests in nearby fallow discoveries from Shell U.K. Ltd. for an undisclosed amount of cash, plus Petro-Canada's 25% interest in Block 14/28b. Production from the assets to be acquired is 2,400 BOE a day, which is approximately 0.4% of Shell's total U.K. production. The interest in Block 14/28b includes a 1% interest in the Shell-operated Goldeneye development in the Moray Firth. After the transaction, Shell's interest in Goldeneye will be 49%. • Cairn Energy, London, plans to acquire all of the upstream business of Shell in Bangladesh, including its interest in the Sangu gas field for US$50 million. The assets include a 37.5% operated interest in the Sangu development area, and a 45% operated interest in exploration blocks 5 and 10 in Bangladesh. Remaining proven plus probable reserves net to Cairn's existing 37.5% interest were 423 billion cu. ft. of gas on a working interest basis and 242 billion cu. ft. of gas on an entitlement basis. Gross production from Sangu during the first half of 2003 averaged 136 million cu. ft. per day. Cairn's net share of production on a working interest and entitlement basis was 51 million cu. ft. per day (8.5 million BOE per day) and 47 million cu. ft. per day (7.8 million BOE per day) respectively. • InterUnion Financial Corp. plans to acquire BMB Holding Inc., which indirectly holds a 70% interest in the Aksaz, Dolinnoe and Emir oil fields in Kazakhstan.