LUKOIL AND SVERDLOVSK OBLAST VOW COOPERATION

Tuesday, July 3, 2012

Vagit Alekperov, OAO LUKOIL President, and Evgeny Kuyvashev, Governor of Sverdlovsk Oblast, signed a Supplement Agreement in Yekaterinburg today to the Cooperation Agreement between the Company and the Oblast that went into effect on November 2, 2010.

As part of the Supplement Agreement, the Government of Sverdlovsk Oblast will consider the possibility of using petroleum road bitumen manufactured by the Company’s subsidiaries to enhance the quality of road construction and reconstruction in the Oblast in accordance with the applicable legislation.

The Government of the Oblast will also consider the possibility of placing a LUKOIL filling complex at the Koltsovo airport.

The Protocol to the Supplement Agreement also identifies a number of land plots that can be used as locations for LUKOIL filling stations, beginning with the automatic ones.

The Parties also agreed to discuss options to work jointly in the area of natural and liquefied gas marketing in the Oblast.