Board of Directors Elected at Annual Meeting of Gazprom Neft Shareholders

At the annual general meeting of shareholders held on June 29, 2010, Gazprom Neft shareholders approved the Company’s annual report and financial statements for 2009.

Dividends for 2009, as resolved by the shareholders’ meeting, will total 16,926,440.00 thousand rubles or 3.57 rubles per ordinary share. Dividends are to be paid out by May 31, 2010 out of the Company’s net profit amounting to 95,592,511.00 thousand rubles under US GAAP Standards.

The meeting resolved to elect members for the Company’s Board of Directors on the list candidates approved by the Board on March 5, 2010, as follows:

  • Chairman of the Management Board Alexey Miller, JSC Gazprom;
  • Deputy Chairman of the Management Board, Head of Financial and Economics Department Andrey Kruglov, JSC Gazprom;
  • Deputy Head of the Management Board, Member of the Management Board Valery Golubev, JSC Gazprom;
  • Member of the Management Board, Head of Marketing, Gas and Liquid Hydrocarbons Processing Department Kirill Seleznyov, JSC Gazprom;
  • Deputy Head of Gas, Gas Condensate and Oil Production Department Alexander Kalinkin, JSC Gazprom;
  • Member of the Management Board, Head of Asset Management and Corporate Affairs Department Olga Pavlova, JSC Gazprom;
  • Member of the Management Board, Head of Legal Department Nikolay Dubik, JSC Gazprom;
  • First Deputy Head of Marketing, Gas and Liquid Hydrocarbons Processing Department Alexander Mikheev, JSC Gazprom;
  • Gazprom Neft CEO Alexander Dyukov;
  • First Deputy Head of Legal Department Vladimir Alisov, JSC Gazprom.

The shareholders elected Gazprom Neft Audit Committee, which includes Dmitry Arkhipov, Vitaly Kovalyov, and Alexander Frolov.

Gazprom Neft’s shareholders appointed PricewaterhouseCoopers as the Company’s auditor for 2010 to perform audit under Russian and international accounting standards.

Further, the shareholders approved the amount of remunerations to be paid out to the members of Gazprom Neft Board of directors and Audit Committee according to 2009 results. In particular, non-executive members of the Board will be remunerated in the amount of 0.005 per cent of EBITDA as per 2009 US GAAP consolidated financial results. Chairman of the Board of Directors will receive an additional 50-per-cent remuneration, and the members of the Board Committees will be paid an additional 10 per cent of a Board member’s remuneration. The remuneration due to the members of the Audit Committee remains equal to that of the last year’s.