LUKOIL AND ADMINISTRATION OF NENETS AUTONOMOUS OKRUG SIGN AGREEMENT ON COOPERATION

Thursday, November 6, 2014

Vagit Alekperov, OAO LUKOIL President, and Igor Koshin, Governor of the Nenets Autonomous Okrug, signed a cooperation agreement between the company and NAO, in Naryan-Mar today, for the period till December 31, 2019.

Under the agreement, the parties will continue interaction in such areas as geological exploration, production of oil and gas, development of the petroleum- product supply system and of the production and social infrastructures, as well as in other areas of mutual interest.

“The Nenets Autonomous Okrug possesses vast hydrocarbon resources and plays a special part in the development strategy of our company. Production buildup in the district is one of LUKOIL’s most important tasks. I am quite sure that the agreement signed today will prove an efficient tool in solving this task,” Mr. Alekperov commented.

“Fifteen years of operation in the district have won LUKOIL the reputation of a reliable partner. This is exactly the case when an entirely private company solves nationwide tasks,” Mr. Koshin said.