BOARD OF DIRECTORS OF LUKOIL APPROVES THE COMPANY`S MANAGEMENT COMMITTEE MEMBERS
Tuesday, July 20, 2010
The Board of Directors of OAO LUKOIL held a meeting in Moscow today to resolve a number of issues related to corporate governance.
Among other things, the following members of the Management Committee were approved:
| 1. | Vagit Alekperov | President, Chairman of the Management Committee |
| 2. | Anatoly Barkov | Vice-President, Head of the Main Division of General Affairs, Corporate Security and Communications |
| 3. | Vadim Vorobyov | Vice-President, Head of the Main Division of Coordination of Petroleum Product Marketing and Distribution |
| 4. | Sergei Kukura | First Vice-President |
| 5. | Ravil Maganov | First Executive Vice-President |
| 6. | Ivan Maslyaev | Head of the Main Division of Legal Support |
| 7. | Alexander Matytsyn | Vice-President, Head of the Main Division of Treasury and Corporate Financing |
| 8. | Anatoly Moskalenko | Head of the Main Division of Human Resources |
| 9. | Vladimir Mulyak | Vice-President, Head of the Main Division of Oil and Gas Production and Infrastructure |
| 10. | Vladimir Nekrasov | First Vice-President |
| 11. | Valery Subbotin | Vice-President, Head of the Main Division of Supplies and Sales |
| 12. | Gennady Fedotov | Vice-President, Head of the Main Division of Economics and Planning |
| 13. | Leonid Fedun | Vice-President, Head of the Main Division of Strategic Development and Investment Analysis |
| 14. | Evgeny Khavkin | Secretary of the Board of Directors |
| 15. | Lyubov Khoba | Chief Accountant |
The candidates for the Management Committee had been recommended by the President of OAO LUKOIL and approved by the HR and Compensation Committee of the Board of Directors of LUKOIL. The Board of Directors also approved the principal terms of agreements concluded with the members of the Management Committee.
In accordance with Item 2 of Article 86 of the Federal Law on Joint Stock Companies and based on the recommendations of the Audit Committee, the Board of Directors established the threshold remuneration for the auditor’s services for the audit of the Company’s financial statements prepared in accordance with RAS in the amount of RUR 12.2 million.
The Board of Directors of LUKOIL has also approved its working plan for 2010-2011.
