2007, Lukoil established a joint-venture with Gazprom and in 2008, established a joint-venture as well with Italian oil company ERG S.p.A. In 2009, Lukoil and Norwegian oil company Statoil won a tender offer for the development of the West Qurna Field in Iraq. However, in early 2012, Statoil withdrew from the project, resulting in Lukoil consolidating 75% of development of the oil field. 2010s From 2010 to February 2011, ConocoPhillips sold its whole 20% stake in Lukoil due to its difficult financial situation. In September 2012, Lukoil created a shared service centre in the Czech Republic to provide accounting services to its subsidiaries in Belgium, Poland, and Bulgaria. In December 2012, Lukoil bought the Imilor field for ₽50.8 billion in the Khanty-Mansi Autonomous Okrug to explore and develop the hydrocarbon deposits located there. In February 2013, Lukoil sold the Odessa Oil Refinery to the Ukrainian "East European Fuel and Energy Company" (VETEK). For Lukoil, the oil refinery was unprofitable when production was stopped as early as October 2010 and the refinery finally closed in the summer of 2013. In April 2013, Lukoil agreed to buy Hess Corporation's Russian unit for $2.05 billion. In 2014, the company faced a sharp decline in retail sales in Ukraine by 42%, caused by Russian intervention in Ukraine. As a result, the management of Lukoil agreed to sell 100% of its subsidiary Lukoil Ukraine to the Austrian company AMIC Energy Management, which was announced at the end of July 2014. In 2014, Lukoil sold its service stations in the Czech Republic, Slovakia, and Hungary. In 2015, it sold its service stations in Estonia and Ukraine, and in 2016, it sold its service stations in Latvia, Lithuania, Poland, and Cyprus. 2020s In March 2022, Lukoil's market stock price dropped 95 percent, as a result of international sanctions during the 2022 Russian invasion of Ukraine. On 21 April 2022, Lukoil issued a statement saying that president Vagit Alekperov had stepped down and resigned from the board of directors after 29 years. The Norway state-owned oil company Equinor exited the last of their joint ventures in Russia by withdrawing the joint venture with Lukoil and exiting the Kharyaga project on 2 September 2022. Operations Oil and gas production Hydrocarbon reserves The company's proved hydrocarbon reserves as of January 1, 2011 amounted to 17.255 billion barrels of oil equivalent, including 13.319 billion barrels of petroleum and 0.67 trillion cubic