The Moscow-based outfit, which is the largest onshore driller in Russia, said the latest deal would run to 31 December 2015.
It is the third long-term agreement by Eurasia Drilling since 2005 with Lukoil, which provides the company with some 57% of its business.
Chief financial officer Richard Anderson also told journalists Eurasia Drilling would acquire 11 new land rigs this year and in early 2014 to add to its 247 onshore rigs.
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