Russian oil major Lukoil has signed the second protocol to the co-operation agreement with the administration of Russia's Nenets Autonomous District. The protocol lays out the co-operation policy for 2008.
As part of the protocol, Lukoil has committed itself to the cumulative production of a minimum of 5.6 million tons of oil in the Nenets Autonomous District.
To facilitate the social and economic development of the district, the company will allocate RUB150 million for the construction of a kindergarten and a maternity hospital in Naryan-Mar, as part of the agreement.
In return, the district’s administration will reportedly assist Lukoil with its projects in the district in line with actual legislation.