Document:

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                                                                   EXHIBIT 10.37

                                 CONTRACT NO 99
           SERVICE RENDERING ON ACCEPTANCE, TRANSPORTATION, TREATMENT,
                      TEMPORARY STORAGE AND METERING OF OIL

Nyagan - Khanty-Mansiysk                                        January 26, 2001

This contract for service rendering on acceptance, transportation, treatment,
temporary storage and metering of oil (hereinafter referred to as "Contract") is
entered into by and between Open Joint Stock Company "TNK-Nyagan", represented
by Director General Mikhail Vasilyevich Kudinov, acting pursuant to its Charter,
hereinafter referred to as "Contractor", on the one hand, and Open Joint Stock
Company "Khantymansiyskneftegasgeologia", represented by Director General Andrey
Borisovich Sergeyev, acting pursuant to its Charter, hereinafter referred to as
"Customer".

                                   1. SUBJECT

      1.1. The Contractor shall render services on acceptance, treatment and
transportation of oil up to the boundary of Contractor's area of responsibility
as well as metering and delivery to AK "Transneft", and the Customer shall pay
for such services under the terms and conditions provided for herein.

      1.2. Oil delivered to the Contractor pursuant to item 1.1 hereof is the
property of the Customer.

      1.3. The Customer shall submit to the Contractor:

      1.3.1. Crude oil delivery annual plan with breakdown into months, Annex 1.

      1.3.2. Well operating practices - before the 1st day of the next month.

      1.4. The Customer shall notify the Contractor of all the changes in the
amount of oil scheduled for delivery not later than 5 days before the beginning
of a month of service rendering.

      1.5. In emergency situations either at the facilities of the Customer or
at the facilities of the Contractor, acceptance of oil shall be accomplished in
the amount agreed upon between the parties.

      1.6. In the event that stock-tank oil delivered through the Contractor's
oil metering unit to AK Transneft does not correspond by quality to item 1.10.
hereof, the Contractor shall attribute the amount of the substandard oil to the
Customer proportionally to the Customer's amount of oil and shall not invoice
the Customer for such amount.

      1.7. Contractor's crude oil acceptance point is the Customer's oil
metering unit (OMU) in Kamennoye field. The boundary of the area of
responsibility is the Customer's pipeline tie-in point into the pipeline of the
Contractor (a companion flange on the valve assembly from the side of the
Contractor of the exploratory well #54 in Kamennoye field).

      1.8. Crude oil quality. Crude oil should not contain any chemical products
(compounds) that are forbidden for use during oil production and transportation
according to the RF MFE Order No 440 dated 23.12.97 and RD 153-39-026-97
"Requirements to the chemical products, which ensure their safety use in the oil
industry. Requirements to the chemical products, the rules and procedures of
their use during oil production and transportation".

      1.9. Stock-tank oil delivery point to AK Transneft: Contractor's oil
metering unit - OMU No 553 or OMU No 530 Pumping Station "Krasnoleninskaya".

      1.10. Quality of stock-tank oil shall be in compliance with GOST 9965-76
and TS 39-1623-93 "Russian exported oil. Technical specifications".

               2. CRUDE AND STOCK-TANK OIL DELIVERY AND ACCEPTANCE

      2.1. Oil acceptance, metering, treatment, transportation and delivery
shall be performed in compliance with "Regulations on commercial oil metering in
oil producing companies", 1995,

<PAGE>

"Nefteavtomatika", "Instructions on oil metering units in oil producing
companies" RD 39-30-627-81, 1981, MNI.

      2.2. The Customer shall deliver crude oil to the Contractor through the
Contractor's oil metering unit on a monthly basis proceeding from the amounts
specified in Annex  No 1.

      2.3. Oil metering unit specified in item 2.2. hereof shall correspond to
the requirements of "Regulations on commercial oil metering in oil producing
companies", 1995, "Nefteavtomatika".

      2.4. The Contractor shall have the right to exercise metrological control
over the condition of the metering instruments and Customer's compliance with
operating practices.

      2.5. Delivery of stock-tank oil prepared for the transportation to AK
Transneft shall be performed by the Contractor at the oil metering unit  No
553 or  No  530 by preparing three times a month, quarterly a delivery
acceptance act signed by the Customer and Contractor.

      2.6. The Contractor may impose temporary restrictions on oil acceptance
and treatment as agreed with the Customer by notifying the Customer (telephone
message) of the time, reason and duration of such restrictions.

      2.7. Storage of oil not stipulated by the technological process shall be
executed by a separate act, which shall specify storage time.

                                 3. OBLIGATIONS

      3.1. Obligations of the Customer:

      3.1.1 The Customer shall arrange for the operation of oil metering unit in
accordance with the project documentation and instruction for the use of oil
metering unit.

      3.1.2. The Customer shall apply the metering instruments for oil metering
unit, which have passed the state metrological certification.

      3.1.3. The Customer shall have a technical passport and act of inspection
of measuring device serviceability.

      3.1.4. The Customer shall immediately notify the Contractor of all the
changes occurred in the operating mode of the oil-gathering collector.

      3.1.5. The Customer shall promptly eliminate the violations discovered by
the Contractor during the inspection of oil metering unit operation and
equipment operating practices.

      3.1.6. The Customer shall make payment for the Contractor's services,
namely acceptance, storage, treatment, transportation and delivery of oil to AK
Transneft within the agreed time frame and on the basis of the Contractor's
invoices.

      3.1.7. The Customer shall deliver crude oil to the Contractor in
accordance with the terms of this Contract.

      3.2. Obligations of the Contractor:

      3.2.1. The Contractor shall accept crude oil from the Customer within the
agreed amount and time frame.

      3.2.2. The Contractor shall ensure that the delivered oil has been treated
according to GOST-9965-76 and TS 39-1623-93 "Russian exported oil. Technical
specifications."

      3.2.3. The Contractor shall ensure that the oil delivered by the Customer
has been reliably determined by quality and quantity, the data has been recorded
and stored in the database. The Contractor shall also issue a passport of
quality prepared in the established form.

      3.2.4. The Contractor shall make a bilateral act jointly with the Customer
on the oil accepted for treatment and oil that has been treated.

      3.2.5. The Contractor shall deliver oil to AK Transneft in the amount
accepted from the Customer by deducting normative technological losses occurring
during the treatment and transportation fixed for year of 2000 and approved by
Gosgortechnadzor. Normative technological losses approved by Gosgortechnadzor
for the Customer and Contractor for the year of 2001 shall be applicable from
the moment of their approval.

      3.2.6. Three times per month on a quarterly basis and in accordance with
the requirements of AK Transneft, the Contractor shall issue to the Customer a
delivery and acceptance act in regard to the oil metering units  No 553 or  No
530 in accordance with the amount of treated and delivered oil.

                              4. PAYMENT PROCEDURES

                                       2
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      4.1 The cost of the services rendered under this Contract shall be
determined by the Contract price established by the Contractor and executed in
the form of the Contract price agreement protocol (Annex 2). The price of the
services should not be less than the cost of oil treatment and storage during
the technological process and oil transportation and delivery to AK Transneft.
The cost of the services shall be determined for the current quarter and shall
be presented to the Customer for approval not later than 20 days before the
beginning of the quarter.

      4.2. Additional services (including oil storage), which are not connected
with oil treatment and transportation, are subject to the additional payment on
the basis of the bilateral acts. The cost of services shall be determined by the
Contract price.

      4.3. The Customer shall make payment to Contractor's settlement account in
the amount of 100% of the cost of the monthly-approved scope of services before
the 1st day of the month preceding the rendering of services.

      4.4. Before the 15th day of each month the Contractor and the Customer
shall sign an act of mutual settlements for the services rendered to the
Customer by the Contractor.

                                  5. LIABILITY

      5.1. All disputes arising from the Contract shall be settled by
negotiations. Should no agreement be reached in the course of negotiations, all
disputes arising from this Contract shall be settled in the KMAO Court of
Arbitration.

      5.2. In the event that the Customer fails to make payments in the time
frame specified in item 4.3. hereof, the penalty in the amount of 0,1% shall be
imposed on the outstanding amount for each day of delay, however, the amount of
penalty should not exceed more than 10% of the outstanding amount irrespective
of the time frame for which the penalty was imposed.

      5.3. In the event of the Customer's delay to make payment for the
Contractor's rendered services within more than 30 days, the Contractor shall be
entitled to compensate for the cost of rendered services by withholding the
amount of stock-tank oil at the price equal to that of OAO TNK-Nyagan. In such
case the Contractor shall promptly (within 2 days) notify the Customer.

      5.4. In the event of violations of the obligations under this Contract in
regard to the technological process, the party at fault shall pay damages to the
affected party in accordance with the requirements of Regulations.

                                6. FORCE-MAJEURE

      6.1. The parties shall be liable for non-fulfillment or improper
fulfillment of the obligations under this Contract, if not proved that the
proper fulfillment was impossible due to force-majeure events that arose after
signing the Contract in the place of its execution. Such force-majeure events
include without limitation restrictive legal acts issued by the legislative and
executive bodies, wars, strikes, fires, floods, earthquakes, civil disturbances,
explosions, epidemic, hostilities, acts of civil disobedience and sabotage.

      6.2. The party that claims force-majeure events shall notify the other
party of such events in writing within 30 calendar days after the date when it
became known to such party that force-majeure events occurred. The notification
shall include the description of force-majeure and how it can affect the
execution of the Contract.

      6.3. Any party that claimed the occurrence of force-majeure shall promptly
submit the proper evidence that confirm the occurrence of force-majeure.

      6.4. In the event that force-majeure circumstances last more than 3
months, each party shall be entitled to terminate this Contract.

      6.5. After the force-majeure ceases to affect the execution of this
Contract, the party that claimed force-majeure shall notify the other party in
writing of how the mentioned force-majeure event altered the performance of the
Contract.

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                                   7. VALIDITY

      7.1. The Contract comes into effect after its signing by the authorized
representatives of the parties and shall be valid until December 31, 2001
inclusive and payment terms shall be valid until they are fulfilled in full.

      7.2. Each party shall be entitled to terminate the Contract independently
by notifying the other party in writing within 45 days before the date of
termination.

                                8. MISCELLANEOUS

      8.1. In the events that are not stipulated by this Contract the parties
shall be governed by applicable RF Law.

      8.2. All Annexes and Amendments to this Contract are an integral part of
this Contract.

      8.3. The Contract is made in two original copies, one copy for each party.
Both copies have equal legal effect.

                                   9. ANNEXES.

      9.1. Integral parts of the Contract are:

      9.1.1 Annex No 1 - Schedule of crude oil delivery to the Contractor within
            a year (with a breakdown into months) - 1 page.

      9.1.2 Annex No 2 - Protocol of Contract price agreement.

                               10. LEGAL ADDRESSES

<TABLE>
<CAPTION>
      CUSTOMER:                                                     CONTRACTOR:

<S>                                                     <C>
      628002 Tyumen region, KMAO,                        OAO "TNK-Nyagan" 627790 Tyumen
      city of Khanty Mansiysk, Sutormina Str., 27        region, Nyagan, Sibirskaya Str., 10 bld.1
</TABLE>

                                 11. SIGNATURES.

      CUSTOMER:                                          CONTRACTOR:

      A.B. SERGEYEV                                      M.V. KUDINOV

                                                           ANNEX NO 1
                                                           TO CONTRACT NO
                                                           DATED  NOVEMBER, 2000
                                  SERVICE RENDERING ON ACCEPTANCE, TREATMENT,
                                  TRANSPORTATION, TEMPORARY STORAGE AND METERING
                                  OF OIL

                                       4
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                                    SCHEDULE
                              DELIVERY OF CRUDE OIL

------------------------------------------------------------------------
    MONTH         PRODUCTION, T     TECH. LOSSES, T    DELIVERY TO TRUNK
                                                          PIPELINE, T
------------------------------------------------------------------------
   January            10000               84                 9916
------------------------------------------------------------------------
  February            12000               101                11899
------------------------------------------------------------------------
    March             19000               160                18840
------------------------------------------------------------------------
  1 quarter           41000               344                40656
------------------------------------------------------------------------
    April             21000               176                20824
------------------------------------------------------------------------
     May              23000               193                22807
------------------------------------------------------------------------
    June              23500               197                23303
------------------------------------------------------------------------
  2 quarter           67500               567                66933
------------------------------------------------------------------------
    July              25000               210                24790
------------------------------------------------------------------------
   August             27000               227                26773
------------------------------------------------------------------------
  September           28000               235                27765
------------------------------------------------------------------------
  3 quarter           80000               672                79328
------------------------------------------------------------------------
   October            30000               252                28748
------------------------------------------------------------------------
  November            32000               269                31731
------------------------------------------------------------------------
  December            34000               286                33714
------------------------------------------------------------------------
  4 quarter           96000               809                95194
------------------------------------------------------------------------
  Per year           284500              2390               282110
------------------------------------------------------------------------

  CUSTOMER:                                    CONTRACTOR:

  A.B. SERGEYEV                                M.V. KUDINOV

                                       5<PAGE>

                                                                   EXHIBIT 10.38

                                CONTRACT NO 1478
       RENDERING OF SERVICES FOR ACCEPTANCE, METERING AND TREATMENT OF OIL

Khanty-Mansiysk                                                October 10, 2000

This Contract is entered into by and between Open Joint Stock Company
"Khantymansiyskneftegasgeologiya", represented by Director General Andrey
Borisovich Sergeyev, acting pursuant to its Charter, hereinafter referred to as
"Customer" and LLC "LUKOIL-Western Siberia" represented by Mikhail Fedorovich
Pustovalov, Transportation Enterprise "Uraineftegas" Director General, acting
pursuant to Power of Attorney No 5580 dated June 9, 2000 hereinafter referred
to as "Contractor".

                                   1. SUBJECT

      1.1. The Contractor shall render services for acceptance of untreated oil,
its treatment, transportation and metering for delivery to OJSC
"Sibnefteprovod", AK "Transneft", as may be requested by the Customer, and the
Customer shall pay for such services under the terms and conditions stipulated
herein.

      1.2. In terms of the present Contract untreated oil shall be deemed to
denote untreated oil extracted by the Customer from wells located in the
Customer's Potanai-Kartopinskaya License Area (hereinafter "Wells").

                            2. RIGHTS AND OBLIGATIONS

      2.1. The Customer shall deliver untreated oil to the Contractor through
"Uraineftegas" in-field oil gathering systems.

      2.2. The Contractor shall deliver the Customer's treated stock-tank oil
through the Contractor's oil metering unit No.912 (hereinafter "Contractor's
OMU").

      2.3. Transportation of stock-tank oil to the points of sale shall be
carried out by the Customer on his own under separate contracts with AK
"Transneft" for 2001.

      2.4. The Contractor shall provide to the Customer stock-tank crude for its
further transportation, its quality corresponding to State Standards (GOST)
9965-76 including amendment No. 1 "Degree of Oil Treatment for Oil Refineries",
Technical Specifications (TU) 39-1623-93 "Russian Export Oil". The Contractor
shall submit a standard certificate of quality for each lot of delivered oil.

      2.5. The Contractor shall undertake and ensure the provision of the
services in a safe and efficient manner in accordance with all applicable laws
and regulations, including those of the Russian Federation and KMAO.

      2.6. The Customer has, and shall maintain in force, valid rights to
explore and develop the Potanai-Kartopinskoye field, and all the Customer's
wells are located in its licensed area.

      2.7. The Contractor shall ensure the acceptance, treatment and
transportation of the Customer's oil produced at the Potanai-Kartopinskoye
licensed area during 2001 in the amount of seven hundred and forty thousand
(740,000) tons.

<PAGE>

                                 3. OIL METERING

      3.1. The metering of untreated oil delivered by the Customer to the
Contractor shall take place at the Customer's OMU. The Customer's OMU flowchart
shall meet the requirements of "OMU Design Regulations", be approved by the
experts' panel of the Flow Metering Research Institute (VNIIR), RF State
Standards Committee, and agreed with the Contractor. The Customer shall be
responsible for the adequate compliance with the provisions stipulated under
this item.

      3.2. The metering of untreated oil shall be done in accordance with the
"Procedure for Acceptance of Oil Extracted by OAO KMNGG from the
Potanai-Kartopinskoye field in terms of Quantity and Quality" (1998) and
"Regulations for Operational and Commercial Metering of Crude Oil at Oil
Producing Enterprises" (1995) agreed with VNIIR Institute and also in accordance
with the "Instructions on Oil Metering Unit Operation" agreed with the
Contractor.

      3.3. An application for acceptance, treatment, metering and transportation
of oil shall be presented on a monthly basis not later than on the 25 th day of
the previous month. The Customer shall timely advise the Contractor by wire
transferred message or by wireless transmission about all changes in the well
mode operations, which may result in changes of volumes of untreated oil
extracted.

      3.4. The Customer and the Contractor shall appoint by means of internal
acts their official representatives to control stock-tank oil metering.

      3.5. Three times per month (every ten days) in accordance with agreed time
schedule of checks, the official representatives of the Parties hereto shall
execute an Act of gage-meter calibration and Interim DAAs that shall be signed
by the Parties hereto.

      3.6. Operational testing of turbine gage flow meter by the calibrator
shall be exercised pursuant to the time schedule of checks agreed with the
Contractor and signed by the authorized representatives of the Parties hereto.
Time intervals between the operating tests (checks) shall be set in accordance
with Annex 9 "Temporary Regulations for Oil Weight Determination". The Checks
Schedule and Oil DAA forms are attached hereto and are considered an integral
part of this Contract. (Schedules A and B).

      3.7. As may be agreed with the Customer or otherwise, the Contractor has
the right to conduct inspection tests of the Customer's OMU with respect to the
reconciliation checks of volumes of untreated oil, volumes of such oil pumped
through, as well as of representative oil sampling followed by execution of
bi-lateral acts duly signed by executive officers of the Parties hereto.

      3.8. Estimate of ballast shall be performed in accordance with "Procedure
for Acceptance of Oil Extracted by OAO KMNGG from the Potanai-Kartopinskoye
field in terms of Quantity and Quality" (1998) and "Regulations for Operational
and Commercial Metering of Crude Oil at Oil Producing Enterprises" (1995) on the
basis of the Contractor's lab analyses of the delivered crude oil samples. The
sampling of oil shall be performed by means of the sampler installed at the
Customer's oil reservoir at BPS "Lovinka" and on the basis of the readings of
the flow meter installed at BPS "Potanaiskoye".

      3.9. Commercial DAAs of stock-tank oil shall be executed by official
representatives of the Parties hereto three times a month (every ten days)
subject to interim DAAs of untreated oil. Commercial DAAs shall take into
account the adjustment due to ballast content of oil determined by the daily lab
analysis of untreated oil, as well as the adjustments due to gauge flow meter
error reflected in the Registration Forms (Graphs) of the Customer's OMU
performance if such error exceeds the established limits.

      3.10. The authorized representatives of the Parties hereto shall exercise,
on a quarterly basis, agreed reconciliation of volumes and weight of oil
delivered during the quarter. Such reconciliation shall be followed by the
execution of a bilateral Reconciliation Act. The delivered oil weight shall be
adjusted by the Contractor on the basis of such Reconciliation Act.

                                       2
<PAGE>

      3.11. Oil delivery into "Sibnefteprovod" shall be exercised by the
Customer under separate contracts irrespective of the Contractor.

                              4. PAYMENT PROCEDURES

      4.1 The Customer shall pay for the services rendered against the invoice
presented by the Contractor within 5 banking days from the date of receiving the
invoice to the following account of the Contractor:

      4.2. If agreed by the Contractor, the payment for the services rendered
may be made in cash, liquid securities or as an offset against
counter-deliveries of material assets performed by the Customer to the
Contractor under a separate contract.

      4.3 The estimate of the Contractor's cost of services being specified in
Schedule C hereto, as approved by the Contractor, constitutes an integral part
of this Contract. The estimate may be revised by the Contractor as a result of
changes in prices and rates for materials, electricity, heat and other services.
Such revised estimate shall be delivered to the Customer along with the
documents confirming the change in prices and rates not later than 10 days
before the beginning of the month in which the change in the cost of services
shall apply. Modified costs shall apply from the month following the month in
which the Customer received the revised estimate.

      4.4 The Contractor, at the Customer's request, shall submit the documents
confirming the change in prices and rates specified in Article 4.3.

      4.5 The environmental damage caused by the Customer's oil and gas
gathering system pipelines break-down resulting in oil spills shall be remedied
by the Customer subject to the relevant documents of the authorized bodies. The
Customer shall reimburse the Contractor for the expenses incurred for emissions
of harmful substances resulting from gas flaring, making payments pro rata the
volumes of the Customer's oil delivered for its treatment at the Contractor's
thermochemical plant.

                              5. CONTRACT DURATION

      5.1. This Contract shall take effect on January 1, 2001 and shall remain
in force through December 31, 2001.

                6. OBLIGATIONS OF THE PARTIES. SPECIAL CONDITIONS

      6.1. In case the payment for the Contractor's services is delayed by the
Customer, the Contractor shall have the right to claim penalties in the amount
of 0.1% from the delayed sum for each day of delay.

      6.2. To ensure the timely payment for the services rendered by the
Contractor, the Contractor shall withhold oil in the amount equal to the cost of
the services rendered by the Contractor.

      6.3. In case of non-fulfillment or inadequate execution by the Contractor
of his obligations under this Contract, the Contractor shall reimburse the
Customer for all the losses and profit loss.

      6.4. In case of untimely or improper acceptance of oil through the
Contractor's fault, the Contractor shall pay the penalties to the Customer in
the amount of 0.1% of the price of oil untimely accepted for each day of delay.

      6.5. In case AK "Transneft" imposes restrictions on oil acceptance, the
Customer shall pay to the Contractor for the storage of oil in accordance with
the current "Transneft" rate multiplied by 1.2. Thus the

<PAGE>

volumes of oil delivered by the Customer to the Contractor shall be regarded
as oil delivered to the Contractor for storage.

                                       4
<PAGE>

                               7. CONFIDENTIALITY

      7.1. All information supplied by the Customer to the Contractor shall be
considered confidential, and shall not disclosed to third parties without the
prior written consent of the Customer.

      7.2. The obligation of confidentiality shall not extend to information in
the public domain, which is required by applicable law to be disclosed;
provided, however, that the Contractor shall notify the Customer in advance of
any such request for disclosure and of the nature of the information to be
disclosed to meet such request.

                                  8. ASSIGNMENT

      8.1. Neither Party to this Contract shall have the right to assign or
transfer its rights or obligations under this Contract without the prior written
consent of the other Party; provided, however, that the Customer shall have the
right to assign its rights and obligations hereunder to its subsidiary or
affiliated company or any third party without the consent of the Contractor
subject to advance written notice.

                         9. APPLICABLE LAW; ARBITRATION

      9.1. This Contract shall be governed by and construed in accordance with
the law of the Russian Federation, including, but not limited to, the
Khanty-Mansiysk Autonomous Okrug legislation and other industry regulations.

      9.2. All disputes and differences arising in connection with this Contract
shall be settled in the first instance by mutual negotiation between the Parties
hereto.

      9.3. In the event of disputes all claims shall be considered within 30
days.

      9.4. In the event that it is not possible to settle the dispute by means
of negotiations within 30 days after receipt of a claim, such dispute may be
referred to the arbitration court of the Khanty-Mansiysk Autonomous Okrug for
consideration in accordance with the procedure for the settlement of disputes.

      9.5. As regards any other provisions that are not stipulated by this
Contract, the Civil Code of the Russian Federation shall apply.

                                10. FORCE-MAJEURE

      10.1. Neither Party to this Contract shall be considered in breach of this
Contract if, and for so long as, prevented from performing by any condition of
force-majeure, which is beyond the control and without the negligence of the
party so affected. Force-majeure shall include riots, wars (declared and
undeclared), civil disturbances, prohibitory resolutions of state bodies issued
after the execution date of this Contract, acts of God (excluding weather
conditions) and other acts or events which the Party could not reasonably
prevent. The Party whose performance hereunder is affected by the event of
force-majeure shall inform the other Party about the occurrence of such
force-majeure event within 3 days of its occurrence; the failure of a Party to
so notify the other Party within such 3-day period shall prevent this Party from
referring to this event of force-majeure as an excuse for the performance of its
obligations hereunder.

      A force-majeure event subject to its type and nature should be confirmed
by an official document issued by the body, which is authorized to execute such
documents in accordance with its powers and rights; otherwise the parties shall
not refer to force-majuere event.

      10.2. During the period of an event of force-majeure, either Party shall
make its best efforts to perform the work and otherwise execute the terms of the
Contract.

                                       5
<PAGE>

      10.3. Either Party shall remain solely liable for its own property and
personnel in the event of force-majeure, and in the event that work under the
Contract can not be completed due to the force-majeure events, all the expenses
incurred by either Party prior to the occurrence of such events shall be borne
by such Party severally.

                                 11. TERMINATION

      11.1. This Contract may terminate in the following instances:

   a.    If the Contractor or the Customer are at any time in material breach
         of their obligations under the Contract, which breach the other
         party has not remedied or commenced to remedy within thirty (30)
         days from the date of receipt of the written notice from the other
         Party specifying such breach.

   b.    If an event of force-majeure continues for a period in excess of
         thirty (30) consecutive days, either Party may terminate the
         Contract by giving 5-days' prior written notice to the other Party.

   c.    If mutually agreed in writing by the Contractor and the Customer.

   d.    If the Customer failed to make timely payments for the rendered
         services within two consecutive months.

      11.2. The grounds for termination specified in Article 11.1 hereinabove
shall be the exclusive grounds for the termination of this Contract, and any
attempted termination of this Contract by either Party for reasons other than
those specified in Article 11.1 hereinabove shall be a breach of this Contract,
subjecting the breaching party to liability in accordance with Russian law.

                                   12. NOTICES

      12.1. All notices required herein to be given shall be deemed to have been
properly given if made in writing and delivered in person or by registered mail
or sent by facsimile (with confirmation of receipt) to the respective Party at
the address indicated below:

   CUSTOMER:
      KHANTYMANSIYSKNEFTEGAZGEOLOGIYA
      626220, Russia Tyumen Oblast, Khanty Mansiysk Autonomous Okrug
      Khanty Mansisyk, 27 Sutromina Street
      Attention: Andrey Sergeyev
      Fax:

   CONTRACTOR:
      TE "URAINEFTEGAS" LLC "LUKOIL-WESTERN SIBERIA"
      621310, Khanty-Mansiyskiy Autonomous Okrug,
      116-a Lenin St., Urai City.
      Att.: Mikhail Pustovalov
      Fax:

                                       6
<PAGE>

                                13. MISCELLANEOUS

      13.1. Any amendments to this Contract shall be effective only if executed
in writing by each of the Parties hereto.

      13.2. This Contract, which incorporates Schedules A, B and C hereto,
constitutes the entire agreement between the Parties, and supersedes all prior
agreements, whether written or oral, between the Parties regarding the subject
matter hereof.

CUSTOMER:                                     CONTRACTOR:
OJSC "KHANTYMANSIYSKNEFTEGAZGEOLOGIA"         LLC "LUKOIL - WESTERN SIBERIA"

/s/ Andrey Sergeyev                           /s/ M.F. Pustavalov
-------------------                           -------------------
Andrey Sergeyev                               M.F. Pustovalov
Director General                              "Uraineftegas" Director General

                                       7

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