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Lukoil and Rosneft to build up cooperation

April 22/2011

(LUKOIL) -- Vagit Alekperov, President of Lukoil, and Eduard Khudainatov, President of Rosneft, in the presence of Igor Sechin, Deputy Prime-Minister of the Russian Federation, signed an Agreement on Long-term Cooperation between the two companies, in Moscow.


In view of the efficient and mutually beneficial cooperation on gas transportation from the Vankorskoye field and the Bolshekhetskaya Depression and also the logistics of hydrocarbons supply from the fields of the Nenets Autonomous District and the exploration operations on the shelves of the Caspian Sea and the Sea of Azov, Lukoil and Rosneft are going to look into opportunities of expanding cooperation in areas of exploration, field development and transportation of hydrocarbons from the license areas of the Nenets Autonomous District;  geological exploration in the license areas of Rosneft on Russias shelf and development of fields already discovered; developing the market of home-produced petroleum products, petrochemicals, products of gas processing and oils; etc.


The parties agreed to establish joint working groups in the above areas before May 15, 2011.


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