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LUKoil Board of Directors to adopt development program today

The Board of Directors of LUKoil will adopt today the company's strategic development program through 2013. According to LUKoil Vice President Leonid Fedun, the main issues of the program are the development of oil and gas production, modernization of refining facilities and the development of the company's sales networks in Russia and abroad.

The Board of Directors will also consider LUKoil's further restructuring and the process of consolidation of assets in the Komi Republic. Moreover, participants of the meeting are to discuss the question concerning the amount of dividends to be paid to LUKoil stockholders for 2002.