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28.07.2008 Re Agreement

Re Agreement  

President of OAO LUKOIL Vagit Alekperov and owners of the Akpet company signed an agreement on acquiring a 100% interest in Akpet by LUKOIL EURASIA PETROL A.S. (a 100% owned subsidiary of ОАО LUKOIL) today in Istanbul.
Akpet operates 693 gas filling stations on the basis of dealer agreements, accounting for about 5% of the Turkish retail market.
The acquired assets include:
- 8 oil product terminals with the total capacity of 300 thousand m3;
- 5 LNG storage tanks with the total capacity of 7.65 thousand m3;
- 3 jet fuel terminals with the capacity of 7 thousand m3;
- motor oil production and packaging plant with the capacity of 12 thousand tons per year.
6 of the 8 Akpet oil product terminals have access to the sea shipment routes. 3 of the 8 oil terminals are connected to the TUPRAS refinery by a product pipeline network.
Supplies of oil products for sale through the retail outlets will be ensured from LUKOIL Neftokhim Burgas Refinery in Bulgaria and ISAB Refinery in Sicily, Italy.