OAO “LUKOIL” is Russian Oil Company, was founded in 1991 in Moskow. This is second largest company and producer oil in Russia. The initials of the three companies (Langepasneftegaz, Urayneftegaz, and Kogalymneftegaz) are preserved in the name “LUKOIL”. In 1994 OAO “LUKOIL” became the first company to begin offering shares of stock on the new Russian Trading System. In September 2004 ConocoPhillips purchased 7.6% stake in “LUKOIL” and signed an agreement that could increase this figure in the future to up to 20%.In 2008 the company had 19.3 billion barrels of oil equivalent per Society of Petroleum Engineers (SPE) Standarts. These accounts to come 1.3% of global oil reserves. In January 2009 the company had proven reserves of 14.5 billion barrels; it does 2,31x10 m3 of oil and 29.3 trillion cubic feet or 830km3 of gas, per SPE requirements. OAO “LUKOIL” is one of the largest tax payers in Russia, the amount of taxes paid in 2010 is $30.2 billion US dollars. This is the first of Russian companies to receive full listing on the London Stock Exchange. Is one of the world’s biggest vertically integrated companies for production of crude oil and gas. Company is a leader of Russian and international markets in its core business. Operational and Financial Highlights of OAO “LUKOIL”
Net Production, million boe* | 2003 | 2004 | 2005 | 2006 | 2007 | Total | 25,5 | 31,5 | 34,9 | 48,1 | 51,1 | Gas | 5,8 | 7,2 | 8,0 | 7,7 | 11,4 | Oil | 19,7 | 24,3 | 26,9 | 40,4 | 39,7 |

Proven reserves, million boe * | 2003 | 2004 | 2005 | 2006 | 2007 | Total | 750,4 | 915,9 | 1 151,3 | 1 254,2 | 1 243,3 | Gas | 385,0 | 540,8 | 655,1 | 765,8 | 865,3 | Oil | 365,4 | 375,1 | 496,2 | 488,4 | 378,0 |

Unit production costs, USD/boe | 2003 | 2004 | 2005 | 2006 | 2007 | Oil and gas | 1,72 | 2,21 | 2,63 | 3,53 | 3,36 |

EBITDA, USD million | 2003 | 2004 | 2005