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Rosneft Holds Board of Directors Meeting

23 December 2013

On December 20, Rosneft’s Board of Directors considered interim results of its 2013 business plan performance and approved the business plan for 2014-2015.

Rosneft achieved all 10-month targets of its business plan. It is also expected to deliver the business plan in full by the year-end. In 2013, the hydrocarbon production is expected to hit 240.2 tons of oil equivalent with the hydrocarbon reserve replacement of 121% and primary refinery throughput (including the share in German refineries) of 95.8 mln tons.

The business plan for 2014-2015 accounts for consolidation and synergy from the assets acquired in 2013 and is aimed at improving key operating and financial indicators. Special attention is paid to implementation of key investment projects to develop promising fields in Eastern Siberia and shelf area, and several projects abroad.

Besides, the Board of Directors considered approval of Rosneft’s energy efficiency program for 2014-15 designed to increase the fuel and energy utilization efficiency and development of Rosneft’s oil trading business.

The Board of Directors passed resolutions on exchange by NGK ITERA – a Rosneft subsidiary - of its assets with NOVATEK.

Besides, the Board of Directors considered construction of the vacuum gas oil hydrocracking facility at Ryazan refining company.

Rosneft Information Division
Tel. +7 (499) 517 88 97
23 December 2013



These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.