President of LUKOIL Vagit Alekperov and the Head of the Udmurt Republic, Alexander Brechalov, signed an Agreement on Cooperation, at Saint-Petersburg International Economic Forum today.
The agreement, concluded by the company and the government of the region for five years, will help improve the investment environment and facilitate favorable conditions to meet challenges the region and its municipalities are facing.
LUKOIL, operating in the Udmurt Republic since 2006, is involved in the production and geological exploration of oil (LUKOIL-Perm, TatRITEKneft, RITEK), and also in the marketing of oil products (LUKOIL-Permnefteprodukt). As of May 2018, LUKOIL owns a network of 64 gas stations and a tank farm facility in the region.
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The first agreement on cooperation, concluded between LUKOIL and the government of the region in 2006, expired in 2011. A frequent supporter of social institutions in the region, the company is also involved in the management of local cultural events and initiatives. Thus, LUKOIL plans to make a contest of its Social and Cultural Projects, held in the Udmurt Republic for the first time last year, an annual event.
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