LUKOIL

LUKOIL is one of the world's leading vertically integrated oil & gas companies. Main activities of the Company are exploration and production of oil & gas, production of petroleum products and petrochemicals, and marketing of these outputs.

Most of the Company's exploration and production activity is located in Russia, and its main resource base is in Western Siberia. Most of the Company's production is sold on the international market. LUKOIL petroleum products are sold in Russia, Eastern Europe, CIS countries and the USA.

LUKOIL's operations are divided into three main business segments:

• Exploration and Production - which includes exploration, development and production operations relating to crude oil and natural gas. These activities are primarily located within Russia, with additional activities in Azerbaijan, Kazakhstan, Uzbekistan, the Middle East, Northern Africa and Colombia.
  
• Refining, Marketing and Distribution - which includes marketing and trading of crude oil, natural gas and refined products, and refining and transport operations.
  
• Chemicals - which include processing and trading of petrochemical products.