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PRESS-RELEASE
02.07.2014 
LUKOIL SIGNS AGREEMENTS ON COOPERATION WITH TYUMEN OBLAST AND KHANTY-MANSI AUTONOMOUS OKRUG-YUGRA

Vagit Alekperov, OAO LUKOIL President, and Vladimir Yakushev, acting Governor of the Tyumen Oblast, signed a cooperation agreement between the company and the oblast government, in Kogalym today. The agreement will be valid till December 31, 2019.

The agreement outlines the key principles of cooperation in the areas of geologic exploration and the production, processing and transportation of oil and gas. It also provides for the implementation of environmental programs and projects focused on the development of the industrial and scientific potential of the Tyumen Oblast.

Also in Kogalym today, Mr. Alekperov and Natalya Komarova, Governor of the Khanty-Mansi Autonomous Okrug-Yugra (KHMAO-Yugra), signed Supplemental Agreement No. 2 to the Cooperation Agreement of October 25, 2013 between the government of the okrug and the company. The document defines the socially important facilities to be constructed, reconstructed and renovated with funding from OAO LUKOIL.


The total funds to be allocated by LUKOIL in 2014 to the implementation of social projects in the KHMAO-Yugra will come to around RUR 2 billion.
PRESS-RELEASE
26.06.2014 
LUKOIL HOLDS ANNUAL GENERAL SHAREHOLDERS MEETING

OAO LUKOIL held its Annual General Shareholders Meeting in Moscow today to approve the Annual Report of OAO LUKOIL for 2013 and financial statements based on the results of the financial year.

The shareholders approved dividend distribution based on the results for the 2013 financial year in the amount of 60 roubles per ordinary share (excluding the interim dividends of 50 roubles per ordinary share earlier paid for the first six months of 2013 financial year). The total amount of dividends payable for the 2013 financial year (including the earlier paid dividends) will total 110 roubles per ordinary share (90 roubles per ordinary share based on the results for 2012). The meeting set 15 July 2014 as the date on which persons entitled to receive dividends based on the results of the 2013 financial year will be determined.

The following Board of Directors of OAO LUKOIL was elected by the shareholders:

  1. Vagit Yu. Alekperov, President of OAO LUKOIL;
  2. Victor V. Blazheev, Rector of the O.E.Kutafin Moscow State Law University;
  3. Valery I. Grayfer, Chairman of the Board of Directors of OAO RITEK;
  4. Igor S. Ivanov, President of the Russian International Affairs Council (RIAC), former Minister of Foreign Affairs of the Russian Federation, Secretary of the Security Council of the Russian Federation;
  5. Ravil U. Maganov, First Executive Vice President of OAO LUKOIL;
  6. Richard H. Matzke, former Vice Chairman of Chevron Corporation;
  7. Sergei A. Mikhailov, Chairman of the Board of Directors of ZAO Kapital Upravlenie aktivami [Kapital Asset Management];
  8. Mark Mobius, Executive Chairman of Templeton Emerging Markets Group;
  9. Guglielmo Antonio Claudio Moscato, Chairman and CEO of Gas Mediterraneo & Petrolio;
  10. Ivan Pictet, Chairman of the UN Investments Committee of the UN Joint Staff Pension Fund Board (NY, USA), member of the International Advisory Board of Blackstone Group International Limited, AEA European Advisory Board, AEA Investors LP Global Advisory Board (NY, USA), member of the Board of Directors of Symbiotics, Chairman of the Board of PSA International SA, President of the Fondation pour Genève and Chairman of the Fondation Pictet pour le Développement;
  11. Leonid A. Fedun, Vice President for Strategic Development of OAO LUKOIL.

The Annual General Shareholders Meeting also elected the Audit Commission, approved the size of remuneration and reimbursement of expenses to the members of the Board of Directors and the size of remuneration to the members of the Audit Commission.

ZAO KPMG was approved as LUKOIL’s independent auditor.

Valery Grayfer was elected Chairman of the newly elected Board of Directors at the Board of Directors meeting held after the Annual General Shareholders Meeting.

All the Annual General Shareholder Meeting materials are available at http://www.lukoil.com/static_6_5id_2108_.html, and the 2013 Annual Report is at http://www.lukoil.com/static_6_5id_218_.html.

PRESS-RELEASE
25.06.2014 
LUKOIL DEVELOPS GAS PROCESSING AND ITS OWN POWER ENGINEERING

Vagit Alekperov, OAO LUKOIL President, attended a ceremony in Perm today dedicated to the commissioning of a booster compressor station (BCS) at the gas-processing plant (GPP) of LUKOIL-Permneftegazpererabotka. The BCS will be used to transport the dry stripped gas to the power park now under construction at the LUKOIL-Permnefteorgsintez refinery.

In addition, the BCS will provide the technical opportunity to transport the products of LUKOIL-Permneftegazpererabotka to Gazprom's gas-transportation system. The BCS includes three compressor units, each with the capacity of 600 million cubic meters per year.

On the same day, Mr. Alekperov also attended a ceremony dedicated to the commissioning of the power park’s first start-up complex to supply electric and thermal power to the LUKOIL-Permnefteorgsintez refinery.

The electric capacity of the first start-up complex is 100 megawatt. The cumulative electric capacity of the power park, which will consist of two start-up complexes, is 200 megawatt, while its thermal capacity is 435 gigacalories per hour.

Commissioning of the first start-up complex, as part of the power park, is scheduled for Q3 of 2014, while the second start-up complex is to be commissioned by the end of the year.

The power park will work on the dry stripped gas produced by the LUKOIL-Permneftegazpererabotka GPP. The rated gas consumption of the power park will be 560 million cubic meters per year.

The power park will fully satisfy the demand of the LUKOIL-Permnefteorgsintez refinery for electric and thermal power and will supply electric power to the LUKOIL-Permneftegazpererabotka GPP. In addition, the reliability of power supply will be considerably enhanced.

The power park design is based on cutting-edge gas-turbine technologies utilizing the heat of the exhaust gases in waste-heat boilers. The combined method used to generate both electric and thermal power helps the company achieve high levels of fuel efficiency.


In the near future, as the new facilities are commissioned at LUKOIL-Permneftegazpererabotka and the second start-up complex is commissioned as part of the power park, the utilization level of the associated petroleum gas from the LUKOIL-Perm fields will reach 95%.
PRESS-RELEASE
25.06.2014 
LUKOIL STARTS TRANSPORTATION OF TOPSIDE FOR CENTRAL PROCESSING PLATFORM AT FILANOVSKY FIELD 

Today, LUKOIL began transporting the topside of the central processing platform (CPP) from Astrakhan to the Russian sector of the Caspian Sea, where construction of field facilities is underway at Vladimir Filanovsky field.

The CPP is designed for the processing and platform-to-shore transportation of oil and associated gas.

Based on current weather conditions, within a few days the CPP topside is expected to be assembled on the bearing units that were fixed to the sea bottom in 2013.

Also assembled there last year were the bearing units for the ice-resistant stationary platform and for the platform of the living quarters module and the riser block.

Currently, the construction of the topsides and catwalk bridges for these structures is near completion.

The topsides of all the four platforms and the catwalk bridges between them are to be fully assembled during this summer and autumn. Production at the field is scheduled to begin in the end of 2015 or early in 2016.

TOPSIDE

PRESS-RELEASE
24.06.2014 
LUKOIL JOINS SHELF PROJECT IN CAMEROON

LUKOIL has acquired a 37.5-percent interest from the British company Bowleven Plc in the development project of the Etinde site at Cameroon’s shelf as part of a production-sharing agreement (PSA).

The transaction will be completed upon approval on the part of Bowleven Plc’s shareholders and the government of Cameroon.

The Etinde site is located in the Gulf of Guinea near the border with Equatorial Guinea and includes three license blocks with a total area of 2,300 square kilometers.

Thirteen out of the sixteen wells drilled at the site demonstrated positive results, and the discovered reserves are now being appraised. The drilling of two more wells is scheduled for next year. The final investment decision upon the expediency of further development of the site is expected to be made in 2015.

Alongside with LUKOIL, the British company New Age (African Global Energy), already the holder of a 25-percent stake, acquires another 12.5% in the Etinde PSA from Bowleven Plc.

When both transactions are closed, Bowleven Plc will retain 25% in the Etinde PSA and yield to New Age its rights as the project operator.