Vagit Alekperov, President of LUKOIL, and Dmitry Mironov, Governor of the Yaroslavl Region, signed a five-year agreement on social and economic cooperation, in Sochi today.

The agreement highlights plans to develop modern technologies in the processing and marketing of hydrocarbons, to formulate programs to manufacture oil field equipment to substitute for what was previously imported and also to help upgrade the region’s fuel-and-energy complex.

LUKOIL intends to boost attempts to create a highway system in the region, to build new infrastructure facilities and also to support entrepreneurship, social and charity projects.