PJSC LUKOIL has begun the first stage of exploration activities at the Vostochno-Taimyrsky license block in the Krasnoyarsk region ahead of time. This stage of exploration includes 2D seismic acquisition of 2,421 line kilometers and drilling of an exploration well.

Seismic equipment and crews are being mobilized to the site. During the 2016 season, the seismic survey will cover the area of 1,000 line kilometers. About 200 employees and over 130 units of equipment provided by two Russian contractors will be involved in seismic operations.

To improve the efficiency of exploration and development of the Vostochno-Taimyrsky block, advanced technology developed mainly by LUKOIL experts, Russian institutes and engineering companies will be used together with best safety and environmental practices and standards.

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OOO LUKOIL-West Siberia (a wholly-owned subsidiary of PJSC LUKOIL) won a tender for the right to develop the Vostochno-Taimyrsky license area in August 2015. Due to reasons beyond control of the Company, a respective license was issued in December 2015. Nevertheless, LUKOIL began exploration activities on time with the schedule originally proposed by the tender commission.