OREANDA-NEWS. Today in the Gazprom Neft’s central office JSC Gazprom Neft’s president Alexander Dukov and JSC LUKOIL’s president Vagit Alekperov signed the Memorandum of understanding between two companies.

Companies have made arrangements particularly about an oil and gas projects implementation in the Russian Federation which will be carried out in following areas of activities:
- acquisition of the right to use the subsoil;
- exploration of jointly acquired subsoil plots;
- exploration and production of jointly acquired fields;
- fields construction, infrastructural projects implementation, including construction of new or/ and renovation of existent infrastructural assets;
- transportation and implementation of produced hydrocarbon materials.
With this aim JSC Gazprom Neft and JSC LUKOIL will create a joint venture company in the form of a limited responsibility society which will be an owner of licenses on subsoil license areas.

Partners will own following shares in the joint venture’s nominal capital: JSC Gazprom Neft - 51%, JSC LUKOIL - 49%. Joint venture’s management will be implemented on principles of parity.