RUSSIAN PRESIDENT VLADIMIR PUTIN AND HEAD OF RUSSIAN GOVERNMENT MIKHAIL FRADKOV CONGRATULATED LUKOIL TEAM ON COMPANY’S FIFTEENTH ANNIVERSARY

Monday, November 20, 2006

President of the Russian Federation Vladimir Putin congratulated the team of OAO LUKOIL on the fifteenth anniversary of the Company's foundation.

‘Presently LUKOIL is one of Russia ’s leading and promising companies that has up-to-date manufacturing resources and highly qualified personnel. The Company consistently intensifies its oil production and raw stock processing and implements significant investment projects due to its effective management, application of cutting-edge technologies and rational resource management. It is essential that LUKOIL respectably represents Russia ’s interests in the global market while expanding its cooperation with foreign countries’, the Russian President emphasized in his congratulation speech.

Vladimir Putin stated his confidence that the Company’s energetic and productive activity was certain to facilitate domestic raw materials base development, ensure the country’s security of energy supply and its economic development.

Mikhail Fradkov, Head of the Russian Government, offered his congratulations stressing the fact that LUKOIL Oil Company had become one of the leading fuel-energy companies of Russia and an important player in the global energy market.

‘The Company's successful work complies with the strategic development tasks for oil and gas industry in the Russian Federation, facilitates long-term economic growth, higher social stability, contributes to environmental protection and rational resources management’, Head of the Russian Government highlighted in his congratulation speech.