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                                                                   Exhibit 10.39



                             CONTRACT NO 05-100/01
                      Rendering of services for oil storage
                       OJSC Khantymansiyskneftegasgeologia

Tyumen                                                               07.12.2000


This Contract is entered into by and between OJSC "Sibnefteprovod", hereinafter
referred to as "Contractor", represented by Lysyany Konstantin Kirillovich,
Director General, acting on the basis of the Charter and Isayeva Nadezhda
Petrovna, Chief Accountant, acting on the basis of the Order No 356-k dated
13.11.2000 and OJSC Khantymansiyskneftegasgeologia, hereinafter referred to as
"Customer", represented by Sergeyev Andrey Borisovich, Director General, acting
on the basis of the Charter and Gubaidullina Fatima Khaidarovna, Chief Account,
acting on the basis of the Order No 59-k dated 15.09.97.

      1.    SUBJECT MATTER

      1.1.  The Contractor shall render services for oil storage (the resources
            of OJSC Khantymansiyskneftegasgeologia) and the Customer shall
            compensate for the cost of such services as specified in this
            Contract.

      2.    TERMS OF CONTRACT EXECUTION

      2.1.  The acceptance of oil for storage shall be carried out upon
            receiving OJSC AK Transneft permission in writing in regard to the
            approval of the amount of oil delivered for storage. In order to
            obtain OJSC AK Transneft permission to accept oil, the Customer
            shall notify the Contractor in writing of the amount of oil for
            storage not later than 15 days prior to the beginning of the month
            in which the storage is scheduled.

      2.2.  The delivery of oil beyond the boundaries of transportation of OJSC
            Sibnefteprovod shall be carried out after receiving a route telegram
            from AK Transneft confirming the readiness of transportation. In the
            event of oil shipment within the boundaries of transportation of
            OJSC Sibnefteprovod, the delivery of oil shall be carried out after
            receiving a relevant instruction from the Customer and shall be
            executed by the separate acts of oil acceptance.

      2.3.  The storage time shall be determined on the basis of the
            Contractor's acts of oil acceptance and a date of the route telegram
            from AK Transneft. In the event that the delivery of the oil amount
            specified in a route telegram is transferred to the next month, a
            final date of storage shall be the first date of the next month. The
            time of oil storage should not exceed 30 days.

      3.    OIL AMOUNT AND QUALITY

      3.1.  The amount of oil delivered by the Customer to the Contractor shall
            be agreed upon on a monthly basis by means of telegrams.

      3.2.  The quality of oil delivered for storage shall be in compliance with
            GOST 9965-76.

      4.    PAYMENT


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      4.1.  Payment for the services rendered by the Contractor shall be made
            for the actually performed services based on the invoice issued by
            the Contractor within each month but not later than within 15 days
            of the next month.

      4.2.  Based on the addendum to the RF Federal Energy Commission Resolution
            # 124/3 dated November 28, 1997, the cost of storage shall be:
            Storage of a thousand tons of oil per day: TARIFF 112.00 (One
            Hundred and Twelve) Rubles VAT 22.40 (Twenty-two) Rubles and Forty
            kopecks TOTAL 134.40 (One Hundred and Thirty-Four) Rubles and Forty
            kopecks The first seven days of storage shall not be included in the
            storage time and no charge shall be imposed on the mentioned period.

      4.3.  In the event of untimely payment for the storage, the Customer shall
            pay penalty for each day of delay in the amount of RF CB rate of
            refinancing depending on the sum of the non-paid services. The
            payment shall be recognized as the acknowledgement of penalty.

      4.4.  In the event of oil resale to a third party, the Customer shall
            necessarily obtain the Contractor's approval of the sales agreement
            in regard to the further possible oil storage in the system of the
            Contractor.

      4.5.  In the event of tariff change the Customer shall pay for the
            services on the basis of new tariffs effective from the date of
            tariff change.

      5.    LIABILITY

      5.1.  In the event that the payment is delayed for more than one month,
            the Contractor is entitled to give up the service rendering.

      5.2.  The Contractor shall be liable for the safety of oil from the moment
            of oil acceptance by the Contractor to the moment of oil delivery to
            the Contractor's point of hand-over.

      5.3.  In the event that item 4.1. hereof has been breached for more than
            one month, the Contractor shall be entitled to apply RF Civil Code
            Article 359.

      5.4.  All disputes, disagreements and difference of opinion that cannot be
            settled by means of negotiations between the parties shall be
            referred to the Court of Arbitration in Tyumen region.

      5.5.  The Contractor shall continue to render services stipulated by this
            Contract during the negotiations about any controversial question or
            before a decision on such question has been made by the Court of
            Arbitration.

            When solving any controversial question, the new coordinated terms
            shall be applied in the retrospect from the date of notification of
            a dispute.

      5.6.  In the event that due to force-majeure both the Customer or the
            Contractor are incapable to continue work or fulfill their
            obligations, they shall notify each other of such force-majeure.

      6.    MISCELLANEOUS

      6.1.  Neither party shall be entitled to assign its rights and obligations
            under this Contract to a third party without prior written consent
            of the other party.

      6.2.  All official notifications and information under the Contract shall
            be sent by teletype or, in some cases by telegraph, telefax or by
            mail.

      6.3.  The Contract shall be valid from 01.01.2001 till 31.12.2001 and in
            terms of payment until the terms of the Contract has been fulfilled
            in full.


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      7.    LEGAL ADDRESSES AND BANK DETAILS

Contractor:                                       Customer

OJSC Sibnefteprovod                       OJSC KhantymansiyskNGgeologia
625048, Tyumen                            626200, Khanty Mansiysk
Respubliki Str., 139                      Sutormina Str., 27


Director General                          Director General
OJSC Sibnefteprovod                       OJSC KhantymansiyskNGgeologia

Lysyany K.K.                              Sergeyev A.B.


Chief Accountant                          Chief Accountant

Isayeva N.P.                              Gubaidullina F.H.