Five managers from a subsidiary of OAO Lukoil (LKOH.RS), Russia's second biggest oil producer, died in a helicopter crash in southern Russia on Wednesday, the company said in a press release.

The helicopter, which belonged to OAO Gazprom's (GAZP.RS) airline company GazpromAvia, was flying from Volgograd to Kotovo.

The five people killed were employed at Lukoil-Volgogradneftegaz, a Lukoil subsidiary in Volgograd.

U.S. oil major ConocoPhillips (COP) holds a 20% stake in Lukoil.

Company Web site: www.lukoil.com

-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495 937 8445; jacob.pedersen@dowjones.com