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September 20, 1996 | CHRIS KRAUL and VANORA BENNETT, TIMES STAFF WRITERS
With an eye toward the decline of its Alaskan oil reserves, Atlantic Richfield Co. said Thursday that it expanded its venture with Russian oil giant Lukoil by committing $5 billion to jointly develop projects in the former Soviet Union. The 18-year agreement, which replaces an earlier $3-billion, 10-year plan announced in March, may be years from producing any results.
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BUSINESS
September 20, 1996 | CHRIS KRAUL and VANORA BENNETT, TIMES STAFF WRITERS
With an eye toward the decline of its Alaskan oil reserves, Atlantic Richfield Co. said Thursday that it expanded its venture with Russian oil giant Lukoil by committing $5 billion to jointly develop projects in the former Soviet Union. The 18-year agreement, which replaces an earlier $3-billion, 10-year plan announced in March, may be years from producing any results.
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