Andrey Bocharov and Vagit Alekperov also took part in a working conference and reviewed prospects for developing the local resource base, which included implementation of its exploration program, search for objects at already developed areas, and opportunities for LUKOIL to acquire new licensing areas in the region.
LUKOIL has been operating in the Volgograd region since 1991, when "LUKOIL-Volgogradneftepererabotka" became the company's first asset in the region. The company runs one of the largest refineries, produces hydrocarbons, has an operating R&D center and marketing organizations in Volgograd Region.
Volgograd Region is a very important region for LUKOIL. Since 2009 the company has been represented in Volgograd Region by LLC "LUKOIL-Volgogradenergo" and "LUKOIL-Teplotransportnaya kompania". Presently, the company runs a full production chain cycle in the region, from exploration and extraction of hydrocarbons to the generation of electricity and heat.