Glossary

ADR

American Depository Receipt

APG

Associated petroleum gas.

ASP (TECHNOLOGY)

A method for increasing oil recovery based on the idea of injecting a mixture consisting of anionic surfactant, soda and polymer into the reservoir

BANK OF RUSSIA

Central Bank of the Russian Federation

CD

Civil defence

CGS

Central gathering station (oil treatment)

CGTP

Complex gas treatment plant

CIS

Commonwealth of Independent States – former republics of the USSR, except Latvia, Lithuania, Georgia and Estonia

CNG

Compressed natural gas

COGTS

Central oil gathering and treatment station

D&O

Directors and Officers Liability Insurance

DOWNSTREAM

Logistics, Processing and Sales Division

EBIT

Earnings before interest, taxes, depreciation and amortisation

EBITDA

Earnings before

ECA

Export Credit Agency

EMS

Energy management system

GDP

Gross domestic product

HC

Hockey club

HSE

Health, Safety and Environment

HTRR

Hard-to-recover reserves

IEA

International Energy Agency

IFRS

International Financial Reporting Standards

IRMS (STANDARD)

Integrated Risk Management System standard

JSC

Joint-stock company

KMAD

Khanty-Mansi Autonomous District

KPI

Key performance indicator

LIBOR

London Interbank Offered Rate

LPG

Liquefied petroleum gases

LTIF

Lost Time Injury Frequency

MD&A

Management’s Discussion and Analysis of Financial Condition and Results of Operations

MET

Mineral extraction tax

MICEX

Moscow Interbank Currency Exchange or Moscow Exchange

NIS

Naftna Industrija Srbije А.D., Novi Sad

NP

Non-profit partnership

OC

Oil company

OE

Oil equivalent.

OECD

Organization for Economic Cooperation and Development

OGCF

Oil and gas condensate field.

OJSC

Open joint-stock company

OPEC

Organization of the Petroleum Exporting Countries

OS

Occupational safety

P.P.

Percentage points

PJSC

Public joint-stock company

PMB

Polymer-modified bitumen

PRMS-SPE

Petroleum Resources Management System developed by the Society of Petroleum Engineers. The system not only takes into account the ability to detect oil and gas, but also the cost-effectiveness of hydrocarbon recovery. Reserves are assessed based on three categories: proved, probable, possible.

R&D

Research and development.

RAS

Russian Accounting Standards

RLC

Regional licensing commission

ROACE

Return on Average Capital Employed

S&A

Subsidiaries and affiliates