LUKOIL AND ROSATOM SIGN A STRATEGIC PARTNERSHIP AGREEMENT

Wednesday, April 11, 2012

Vagit Alekperov, OAO LUKOIL President, and Sergey Kirienko, General Director of the State Nuclear Energy Corporation ROSATOM, signed a strategic partnership agreement between the Company and the Corporation, in Moscow today.

Under the terms of the document, Rosatom will engage LUKOIL Group organizations in biddings for the supply of petroleum products, namely, gasoline, diesel, jet fuel, liquefied hydrocarbon gases, fuel oil, oil bitumen and various-application oils for corporate needs.

For its part, LUKOIL will engage the Rosatom organizations in competitive participation in equipment purchases for petrochemical production, generation of thermal and electrical power, and also for pipeline transport.

The Agreement will be valid for three years.

‘The oil and gas industry is traditionally considered the motive power of engineering. This Agreement will serve as a catalyst of cooperation between our Company and the atomic industry plants, whose equipment and technologies have always been marked by exceptional quality and high reliability’, Mr. Alekperov said.

“Rosatom ’s factories turn out high-precision science-intensive products which are already used in the petrochemical industry. I am sure that the agreement with LUKOIL Group will prompt us new forms of mutually beneficial cooperation”, Mr. Kirienko commented.