ANNUAL REPORT 2005 - Lukoil

The Company buys 15 filling stations in Hungary from the Austrian company ABA, raising the number
of LUKOIL filling stations in Hungary to 26 (about 3% of the total Hungarian retail market).
LUKOIL buys the Finnish companies Oy Teboil Ab and Suomen Petrooli Oy.
LUKOIL and Gazprom sign a General Agreement on Strategic Partnership in 2005–2014. The agreement
concerns joint realization of projects for exploration and development of oil & gas fields in the
Yamal-Nenets Autonomous District, the Russian sector of the Caspian Sea, the Republic of
Uzbekistan and other regions.
April
LUKOIL completes calculation and independent audit of its oil & gas reserves as of 1 January, 2005.
According to the data, confirmed by Miller & Lents (USA), the Company's proved reserves of hydrocarbons
are 20.07 billion boe: 15.97 billion barrels of oil and 24.60 trillion cubic feet of gas.
The Company commissions the Nakhodkinskoye gas field in the Boshekhetskaya Depression (Yamal-
Nenets Autonomous District). The field should reach its planned production level of 10 billion cubic
meters by 2008.
The international rating agency Moody's Investors Service raises its LUKOIL senior rating from Ba2 to
Ba1. Moody's also raises its LUKOIL unsecured issuer rating from Ba3 to Ba2.
May
LUKOIL changes the ratio between depository receipts and ordinary shares in its two most liquid programs
of receipts, from one receipt representing four common shares to one receipt representing one
common share. The main point of the change is to create extra liquidity and increase attractiveness
of the depository receipts for all categories of investors.
9EVENTS IN 2005