16. Rosneft Oil Company

Company Snapshot
OJSC Rosneft Oil Company, together with its subsidiaries, engages in the exploration, development, production, and sale of crude oil and gas, as well as in the refining, transportation, and sale of petroleum products in the Russian Federation.

It holds a 20% interest in the Sakhalin-1 project, which is being developed under a production sharing agreement (PSA), as well as in the Sakhalin-5 project.

The company also develops Zapadno-Shmidtovsky and Vostochno-Shmidtovsky blocks, as well as has a PSA agreement with the Kazakhstan Government for the joint development of the Kurmangazy oil and gas field.

In addition, OJSC Rosneft develops Ardalin and satellite fields in the Timan-Pechora Basin located 125 kilometers south of the Barents Sea.

Further, the company owns interests in Lot 17 prospect that consists of licensed blocks in the Khanty-Mansiysk Autonomous District and in Evenkia, as well as in the Samara Region.

As of December 31, 2006, it had proved developed reserves of 9,891 million barrels of oil equivalent.

OJSC Rosneft also provides banking and financing, drilling, and construction services.

The company was founded in 1993 and is headquartered in Moscow, the Russian Federation.

OJSC Rosneft Oil Company operates as a subsidiary of OJSC Rosneftegaz.

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Sergey Bogdanchikov
TITLES
President, Member of Management Board, and Director
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