LUKOIL OVERSEAS ANNOUNCES FORCE MAJEURE IN THE COURSE OF IMPLEMENTING CI-205 PROJECT IN COTE D’IVOIRE

Monday, April 4, 2011

LUKOIL Overseas (a wholly-owned subsidiary of OAO LUKOIL) released an official force majeure notification under the PSA terms with regards to the CI-205 offshore geological prospecting project to the Government of Cote d’Ivoire, relevant ministries and Oranto Petroleum and PETROCI Holding partner companies.

LUKOIL Overseas will resume active operations under the CI-205 project as soon as the situation in Cote d’Ivoire subsides.