Leonid Fedun said the acquisition will enable the company to enter the markets of the Czech Republic, Slovakia and Belgium and enhance its positions in Poland, Hungary and Finland.
Fedun did not specify the value of the deal, which he said will see the company's annual retail sales jump by 11.4 million metric tons (83.6 million barrels), or 19%.
The third-largest energy company in the U.S., and the fifth-largest refiner in the world, ConocoPhillips operates about 500 Jet-branded filling stations located mainly in Europe.
The vice president also said LUkoil, where ConocoPhillips holds around 19%, will announce the acquisition of an oil refinery in Eastern Europe in the near future, and is mulling the purchase of a stake in Unipetrol, a Czech petrochemical consortium.
LUKoil says it is the world's second-largest oil company by proven hydrocarbon reserves, estimated at 20.3 billion barrels of oil equivalent, including about 16 billion barrels of oil and 25 trillion cubic feet of natural gas.
