The
Board of Directors of OAO LUKOIL held a meeting today inTashkent (the Republic of Uzbekistan) where resolutions relating to
the Annual General Shareholders Metting were passed.
In particular, it was decided that
the Annual General Shareholders Metting will be held on June 26, 2008 at 11:00
at the Company’s headquarters in Moscow. It was also resolved that the record
date for the list of shareholders entitled to participate in the Annual General
Shareholders Meeting shall be May 08, 2008. The Board of Directors intends to
recomend to the shareholders to approve dividends for the 2007 financial year in
the amount of RUR 42 per ordinary share (RUR 38 per ordinary share for
2006).
The shareholders will elect the
Board of Directors of OAO
LUKOIL, consisting of 11 memebers, from the list of candidates approved by the
Board of Directors of OAO LUKOIL on February 4, 2008:
1.
Vagit Yu. Alekperov, President of OAO LUKOIL;
2.
Igor V.
Belikov, Director of the Russian Institute of Directors;
3.
Donald
Evert Wallette (Jr.), President of Russia/Caspian Region,
ConocoPhillips
4.
Valery I.
Grayfer, General Director of OAO RITEK;
5.
Oleg E.
Kutafin, Rector of the Moscow State
Academy of
Law;
6.
Andrey L.
Kostin, Chairman and CEO of OAO Bank VTB;
7.
Ravil
U. Maganov,
First Executive Vice President of OAO LUKOIL;
8.
Richard H.
Matzke, former Vice Chairman of Chevron
Corporation;
9.
Sergei A.
Mikhailov, General Director of OOO
Management-Consulting;
10. Nikolai A.
Tsvetkov, Chairman of the Board of Directors of OOO Upravlyayuschaya kompaniya
Evolyutsia [Evolution Management Holding Company];
11. Igor V.
Sherkunov, Chairman of the Board of Directors of ZAO Investitsionnaya Gruppa
Kapital [Capital Investment Group];
12. Alexander
N. Shokhin, President of Russian Union of Industrialists and Entrepreneurs
(employers).
Meanwhile,
Andrey L.
Kostin notified the Company of his refusal to be elected to the Board of
Directors of OAO LUKOIL on the ground of conflict of
interests.
The Board
of Directors decided to recommend that shareholders approve KPMG ZAO as the
independent auditor of OAO
LUKOIL.
The Board of Directors also reviewed
a report by LUKOIL Overseas Holding Ltd. on project implementation results and
prospects in the Republic of Uzbekistan.
Today, the Company is involved in
exploration, field development and hydrocarbon production projects in
Uzbekistan.
In mid-term perspective, LUKOIL’s
estimated peak gas production in Uzbekistan may exceed 16 billion
cubic meters. The 2007–2039 estimated aggregate gas production may surpass 300
billion cubic meters. The peak oil production in 2011 is expected to reach 500
thousand tons a year, making about 7 million tons throughout the whole
development period.
“Projects in Uzbekistan gain
a priority importance for the Company in the area of international activity
development and gas strategy implementation. Uzbekistan has
created most favourable environment for foreign investment. Undoubtedly, LUKOIL
will fulfill all its commitments to the Republic of Uzbekistan,” Vagit Alekperov, President of
OAO LUKOIL, said.
