Bashneft-Polyus and Vostok NAO sign protocols to Cooperation Agreements with the Administration of the Nenets Autonomous District

In addition, today the Protocol for 2016 to the Agreement on Social and Economic Cooperation has been signed by the Administration of the Nenets Autonomous District and LLC Vostok NAO Oil Company, the second joint venture of Bashneft and Lukoil conducting geological exploration at seven licence areas in the District. The document was signed by Governor Igor Koshin and the General Director of LLC Vostok NAO Oil Company Vladimir Sarychev.

The signing ceremony was attended by Bashneft’s President Alexander Korsik, Bashneft’s First Vice President for Upstream Mikhail Stavskiy and Alexander Leyfrid, Vice President of Lukoil and General Director of LLC Lukoil-Komi.

'Joint projects of Bashneft and Lukoil in the Nenets Autonomous District are performing well: production at the Trebs and Titov fields is growing; exploration drilling has been started at new licence areas,' emphasized Bashneft’s President Alexander Korsik. 'We are determined to increase investment in the District’s economy and to continue to implement important social projects together with the Administration of the Nenets Autonomous District for the benefit of all residents of the region.'

'If I were asked to describe the relations between the District and our subsoil users in a few words, I would use the words «mutual support» and «results»,' commented the Governor of the Nenets Autonomous District Igor Koshin. 'We are working towards the same goals, and this is great. Our two major priorities are to boost our country’s income and to improve living standards in the District. Bashneft and Lukoil use a practical approach to their social and economic commitments rather than a formal one, and this produces tangible results: happy and well-educated children, successful students, outstanding athletes, transformation of villages, towns and cities in the District. The current economic environment is testing our strength, but this only serves to strengthen our mutual support and to highlight the importance of the ultimate outcome.'

The documents signed by the companies stipulate that in 2016 LLC Bashneft-Polyus is to provide charitable funding for infrastructure and social projects, as well as for measures in the field of sports, culture, education and health care in the Nenets Autonomous District totalling 45 million roubles, while LLC Vostok NAO Oil Company is to provide 10 million roubles.