May 27, 1998 - LUKOIL President Vagit Alekperov and Uneximbank President Vladimir Potanin signed an Agreement on Partnership in Moscow Wednesday.

The agreement provides for interaction in various spheres, including cooperation on financial, production, regional and legal issues. This is going to be the first example of large-scale cooperation between a major financial institution and a leading oil company of Russia.

In the financial sphere, LUKOIL and Uneximbank will cooperate in universal banking services for production activities, investment projects and asset management.

In the production sphere, LUKOIL and Uneximbank will consider a number of joint projects in the oil and gas sector, coordinate petroleum products marketing in Russia and abroad and pursue a concerted regional policy.

In the legal sphere, LUKOIL and Uneximbank will coordinate their positions for defending interests of the oil and gas sector at all levels of the legislative and executive powers. Uneximbank and LUKOIL will coordinate their stands on legislation regulating the oil and gas sector and will provide each other with legal and informational support.

The agreement extends to the partners' activity both inside and outside Russia.

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