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PRESS-RELEASE
11.08.2014
LUKOIL TAKES PART IN ACTIVITIES HELD BY ARCTIC COUNCIL

OAO LUKOIL participated in the Arktika-2014 maneuvers held in the Pechora Sea as part of an international meeting attended by member countries and observers of the Arctic Council and by foreign scientists.

The maneuvers, focused on issues dedicated to the search and rescue of crew members and oil-spill response in case of offshore accidents at the Prirazlomnaya offshore ice-resistant platform, were also attended by employees of OAO Gazprom, subdivisions of the Defense Ministry, Russia’s EMERCOM and Federal Security Service.

In addition, a group of participants visited the Varendey oil-export terminal and a number of other LU?OIL facilities in the Nenets Autonomous Okrug. The group included Nikolay Patrushev, Secretary of the RF Security Council, heads of Russia’s regions, federal ministries and administrations, representatives of the member countries and observers of the Arctic Council and also scientists from Denmark, Iceland, Canada, Norway, Finland, Sweden, Singapore, the Republic of Korea and the People’s Republic of China.

“LUKOIL’s activities in the area of environmental protection, oil production and transportation in the Arctic region are a vivid example of responsible attitude towards the development of the Northern resources,” Nikolai Patrushev, Secretary of the RF Security Council, noted, commending LUKOIL’s contribution to the events held.

“Responsibility for the human lives and natural resources entrusted to us, our commitment to highest environmental standards are some of our more important corporate values. The Arktika-2014 maneuvers have yet again demonstrated that LUKOIL is ready to confirm in practice its adherence to the declared values”, Ravil Maganov, First Executive Vice President of OAO LUKOIL, commented.

PRESS-RELEASE
04.08.2014 
LUKOIL CONTINUES OPTIMIZATION OF ASSET STRUCTURE IN CENTRAL EUROPE

OAO LUKOIL has signed contracts with MOL Plc. and Norm Benzinkút Kft on the sale of assets in the Czech Republic, Slovakia and Hungary.

Slovnaft ?eská Republica, Spol. S.R.O. (a subsidiary of MOL Plc.) will buy from LUKOIL a network of 44 gas-filling stations located in the Czech Republic’s territory.

Norm Benzinkút Kft will purchase LUKOIL’s filling-station networks in Hungary (75 stations) and the Slovak Republic (19 stations).

Both deals are expected to be closed before the end of 2014.

The decision to sell the assets was taken as part of the effort to optimize LUKOIL’s business in petroleum-product marketing.

PRESS-RELEASE
30.07.2014
LUKOIL BEGINS TO RECEIVE RETURN ON INVESTMENT FOR WEST QURNA-2 IN IRAQ

A tanker chartered by LITASCO (an international marketing subsidiary of OAO LUKOIL) arrived at the port of Basra in southern Iraq today. The vessel will load the first batch of oil in reimbursement of the costs incurred by LUKOIL as part of the first development phase ("early oil") of West Qurna-2 field.

 

One million barrels of oil (about 160,000 tons) will be loaded onto the ship during its stay in Basra. More tankers will follow before the end of the year to transport the compensation oil that LUKOIL is supposed to get under the Service Contract for the Development and Production of West Qurna-2.

 

Field work is now continuing to increase today’s production of 280,000 barrels a day. The project is moving forward according to plan as LUKOIL fully meets its contract obligations.

 

“The first tanker of oil in compensation for our investments is yet additional evidence of the strong partnership between LUKOIL and the Iraqi party in the development of Iraq's oil industry," Andrey Kuzyaev, Vice-president of OAO LUKOIL, President of LUKOIL Overseas (operator of the company’s upstream projects abroad), commented.
PRESS-RELEASE
31.07.2014 
LUKOIL OPTIMIZES STRUCTURE OF ASSETS IN EASTERN EUROPE AND UKRAINE

LUKOIL and Austria’s AMIC Energy Management GmbH (AMIC) have reached an agreement in principle to sell 100% of LUKOIL-Ukraine CFI which owns around 240 filling stations and 6 petroleum tank farms in Ukraine. Negotiations were initiated by the Austrian party who expressed their interest in acquiring the assets.

Currently, the parties are interacting as part of the due diligence of assets and are preparing to sign a sale-and-purchase contract.

“The sale of the filling-station network and petroleum tank farms in Ukraine to AMIC will help LUKOIL optimize its asset structure and distribution-network management system in Eastern Europe, to which we attach great importance seeking to enhance the efficiency of our business in terms of petroleum-product sales," Vadim Vorobyov, LUKOIL Vice-president, said.

“Given that LUKOIL-Ukraine is one of the top five leaders of the Ukrainian fuel market in terms of the number of filling stations and the volume of retail petroleum-product sales, its purchase is a strategically important step to improve AMIC’s investment portfolio in Central and Eastern Europe. I would like to express my sincere gratitude to our partners for their willingness to positively consider our offer to purchase the retail network," Dr. Günter Maier, Managing Director of AMIC Energy Management GmbH, commented.

PRESS-RELEASE
24.07.2014 
LUKOIL BOARD OF DIRECTORS APPROVES MEMBERS OF COMPANY MANAGEMENT COMMITTEE

The Board of Directors of OAO LUKOIL held a meeting in Moscow on the 23rd of July. The following size and personal composition of the Management Committee were approved:

1.

Vagit Alekperov

President

2.

Vadim Vorobyov

Vice-President, Petroleum Product Sales Coordination

3.

Sergei Kukura

First Vice-President

4.

Ravil Maganov

First Executive Vice-President

5.

Sergei Malyukov

Vice-President, Control and Internal Audit

6.

Ivan Maslyaev

Vice-President, General Counsel

7.

Alexander Matytsyn

Senior Vice-President, Finance

8.

Anatoly Moskalenko

Vice-President, Human Resources Management and Corporate Structure Development

9.

Vladimir Nekrasov

First Vice-President

10.

Valery Subbotin

Vice-President, Sales and Supplies

11.

Gennady Fedotov

Vice-President, Economics and Planning

12.

Evgueni Khavkin

Vice-President, OAO LUKOIL Chief of Staff

13.

Lyubov Khoba

Vice-President, Chief Accountant

14.

Azat Shamsuarov

Senior Vice-President, Oil and Gas Production

The candidates for the Management Committee had been recommended by the President of OAO LUKOIL and approved by the HR and Compensation Committee of the Board of Directors of OAO LUKOIL.

The Board of Directors also empowered the OAO LUKOIL Management Committee to develop and approve the Action Plan aimed at holding the extraordinary General Shareholders Meeting to make a decision on the payment of interim dividends on OAO LUKOIL ordinary shares. The payment will be based on the results of the corresponding reporting period of the 2014 financial year, and the dividend amount was recommended by the Strategy and Investment Committee of the Board of Directors at RUR 60 per ordinary share, based on the financial and economic totals of LUKOIL Group in the first half of 2014.*

The Board of Directors approved the terms of the supplement agreement with ZAO Computershare Registrar, LUKOIL’s registrar, who on July 7, 2014 received all rights and obligations of OAO Registrar NIKoil, including the function of keeping the OAO LUKOIL shareholder register.

* Recommendations regarding the dividend amount for OAO LUKOIL shares basing on the results of the corresponding reporting period of the 2014 financial year, the dividend-payment procedure, and also the setting of the date for naming those who have the right to receive the dividends, will be issued by the Board of Directors parallel to the discussion of the holding of an extraordinary general shareholders meeting within the time limits set by the RF legislation. The decision on the payment (announcement) of dividends is adopted by a general shareholders meeting of OAO LUKOIL.