The Open Joint-stock Company LUKOIL Oil Company was founded by the Russian Government’s Resolution No.229 of April 5, 1993. Vagit Alekperov was appointed the Company’s President and Chairman of the Board of Directors. In the same year the Consolidated Privatization Plan was approved and the first issue of OAO LUKOIL’s shares was registered.

LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved
hydrocarbon reserves globally.

LUKOIL enjoys a full production cycle to control the entire value chain from upstream to downstream. LUKOIL employs over 110 thousand people who join their efforts and talents to secure the Company’s market leadership.

Goals

LUKOIL sets itself the objectives to create new value, maintain business stability and provide shareholders with high return on their investments through asset value appreciation and cash dividends

LUKOIL will use all available means to achieve these objectives, including further efforts to reduce costs, operating efficiency increases, improvement of product and service quality, and application of the latest technologies

Mission

To harness natural energy resources for human benefit

Aims to support long-term economic growth, social stability, prosperity and progress in the regions where the company operates, as well as caring for the environment and ensuring sustainable use of natural resources

To achieve consistent and long-term growth of our business, transforming LUKOIL into a leading global energy company. To be a reliable supplier of hydrocarbons on the international energy market