A memorandum of understanding was signed on Wednesday between LUKoil and Argentina's Energia Argentina S.A. and Pobater S.A. companies, after talks between Argentine President Cristina Fernandez and Russian officials.
The document stipulates the possibility of oil product deliveries (heating oil or diesel fuel) for the Enarsa oil and gas company and the use of Pobater's infrastructure for fuel storage.
"Our company is already carrying out active work in two Latin America countries - Colombia and Venezuela. We hope that the memorandum of understanding signed today with the Argentinean companies will facilitate Russia's beneficial cooperation with Latin American countries," Nekrasov said.
The memorandum was signed for a term of three years and may be extended.
LUKoil's oil output grew 1.4% last year to 713 million barrels.
