Pursuant to the RF Government’s Resolution No. 861 of September 1, 1995 the Company’s charter capital was extended with the controlling stakes of nine oil-producing, distribution and service companies of Western Siberia, the Urals and the Volga region. In the same year, Atlantic Richfield Company of the U.S. became a large shareholder of OAO LUKOIL’s, purchasing 7.99% of the Company’s stock. In 1995, LUKOIL extended its geographic reach by entering oil-producing projects in Egypt and Kazakhstan. In Russia, the Company launched a large-scale seismic survey in the Northern and Middle Caspian Sea. Russia’s President Boris Yeltsin awarded OAO LUKOIL President Vagit Alekperov with the Order of Friendship for his service to the state and a significant contribution to the development of the fuel and energy complex.

Russia’s President Boris Yeltsin is awarding OAO LUKOIL President Vagit Alekperov with the Order of Friendship