Rosneft and Surgutneftegas Expand Cooperation

Heads of Rosneft and Surgutneftegas - Igor Sechin and Vladimir Bogdanov - held a meeting on January 25 in Moscow, where they discussed current cooperation between the companies.

During the meeting the parties agreed to continue cooperation in the area of petroleum products supply for the Russian consumers and discussed issues related to petroleum products export.

The parties paid particular attention to the opportunity for joint supplies in order to reduce costs and optimize transportation expenses, as well as the opportunity for joint infrastructure use as part of implementation of environmental and industrial safety programs, including prevention of emergency situations and prompt alerting.

A working group was established as a result of the meeting to include Rosneft and Surgutneftegas representatives.

Igor Sechin and Vladimir Bogdanov also signed an agreement on the sale and purchase of Surgutneftegas stake in the National Oil Consortium executing Junin-6 project in Venezuela. The deal was approved by the Government of the Russian Federation. This transaction is now complete.

Rosneft Information Division, January 25, 2013