LUKOIL APPROVES 2014 RESEARCH AND TECHNOLOGY PROGRAM

Thursday, March 27, 2014

The OAO LUKOIL Management Committee approved LUKOIL Group's 2014 Annual Research and Technology Program.

It includes approximately 1,000 topics divided into five categories:

- research, development and technology work;

- research-and-technology work in the area of oil- and gas-field development and operation;

- research-and-technology work in geologic exploration;

- research-and-technology work in the area of raw-material base appraisal;

- functional research-and-technology work and services.

The total financing for the Program comes to RUB 6 billion. Most of the funds will be allocated to research-and-technology work in the Geologic Exploration&Production Business Segment.