Lukoil and Technip, through their respective affiliates Lukoil-Neftegazstroy and Technip
Germany, have signed an agreement to create a 50/50 joint venture company for the development and realisation of projects related to oil and gas production, gas processing, refining and petrochemicals in Russia, as well as CIS and other countries. The joint venture will have the exclusive right to bid on contracts designated by both parties as projects they wish to pursue together in Russia and, from time to time, in other countries as well. The scope of co-operation includes all onshore projects other than drilling activities.
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