LUKOIL HAS COMPLETED A DEVELOPMENT OF THE CORPORATE ENVIRONMENTAL PROGRAM

Thursday, July 13, 2000

LUKOIL has completed a development of the Corporate Program aimed at Environmental Rehabilitation of Soiled Lands and Prevention of Oil Spills at OAO Komineft throughout 2000-2005.

LUKOIL took a responsibility to liquidate oil spills which occurred earlier, including the 1994 accident at the oil pipeline Vozei - Headworks.

The implementation of this Program includes restoration of 695 hectares of soiled lands, processing of 220,000 tons of sludge. About RUB700m will be expended to implement these measures over the 5 years period.

27 hectares of land were restored by early July. 126 hectares are expected to be treated by the end of September.