Russia’s largest private oil producer Lukoil cannot say exactly when it will close the deals to buy new overseas production assets, even though it has already made some $1.8bn advance payments for these transactions, Lukoil Vice President Leonid Fedun told the media.

In its U.S. GAAP financial statement for January-March 2011, Lukoil stated that it made a $1.778bn “advance for certain purchases.” Later the company announced that it plans to complete the deal in September.

Lukoil did not provide any information on this transaction but said it is interested in acquiring production assets in the United States and Southeast Asia.