Press Release

LUKOIL AND ASTRAKHAN REGION CONTINUE COOPERATIONON SOCIAL AND ECONOMIC DEVELOPMENT

Wednesday, April 10, 2019

President of LUKOIL Vagit Alekperov and the Head of Astrakhan Region, Sergey Morozov, signed a protocol to the cooperation agreement between the company and the region for 2019, in Astrakhan today.

According to the document, LUKOIL will finance renovation of school buildings in Liman municipality, construction of a sports facility in Kharabali district, renovation of a community center in the industrial settlement of Ilyinka, Ikryanoye district, and will hold a LUKOIL contest of social and cultural projects.

Earlier on, LUKOIL's support made it possible to open a new tourist and exhibition center at the Astrakhan Kremlin, redevelop Petrovsky Park in Astrakhan and reconstruct an architectural ensemble incorporating the Astrakhan Walk of Glory, with portrait sculptures of outstanding compatriots, and the Triumphal Arch. The company has also financed urban development projects and the construction of nurseries, kindergartens and infrastructure facilities in rural regions.

During the working trip to the region, Vagit Alekperov and Sergey Morozov also visited an assembly site to look at the preparation of a wellhead-platform topside for offshore operations at Vladimir Filanovsky field.

Information

LUKOIL pioneered the development of the Russian sector of the Caspian Sea bottom. The company’s effort resulted in the discovery of ten fields with total initial recoverable reserves of approximately seven billion barrels of oil equivalent. LUKOIL’s fields in the north of the Caspian Sea share a single infrastructure to treat and ship the yield. All the facilities were built at Russian shipyards. Production operations comply with the zero discharge principle, which guarantees a safe ecosystem as all household and industrial wastes are transported off sites for recycling or utilization at onshore facilities.