LUKOIL AND SAMARA REGION SIGN COOPERATION AGREEMENT

Thursday, June 24, 2010

Vagit Alekperov, OAO LUKOIL President, and Vladimir Artyakov, Governor of the Samara region, signed a cooperation agreement between the company and the region.

Under the Agreement, LUKOIL will launch a number of construction projects of new petroleum-product-supply facilities in the Samara region, ensure an uninterrupted supply of petroleum, oil and lubricants to the local agro-industrial complex during harvest time, as well as the wholesale and retail marketing of petroleum products.

LUKOIL will also conduct continuous quality monitoring of the petroleum products distributed in the Samara region by its subsidiaries and maintain control over their compliance with the technical standards of the Russian Federation.

The administration of the region will assist LUKOIL enterprises within the scope of its competence in obtaining land plots for petroleum-product-supply facilities, involving the construction sector of the Samara region in implementation of the Company's projects, as well as in combating petroleum-product trafficking.

The document will serve as the basis for finalizing separate contracts and agreements between LUKOIL and the Samara region in specific areas of cooperation.

The Agreement went into effect the day it was signed and will be valid for five years.

Currently, LUKOIL runs 12 filling stations in the Samara region.