Gazprom Neft and Administrations of Tumyen region municipal units conclude social and economic agreements

Noyabrsk, June 21 2006: A procedure of signing of general social and economic agreements between OJSC Gazprom Neft, OJSC Sibneft-Noyabrskneftegaz, LLC Zapolyarneft, OJSC Meretoyakhaneftegaz and the administrations of the municipal units of Noyabrsk, Nadym and Nadymskiy, Krasnoselkupskyi, Purovskyi, Niznevartovskyi and Sugmut district anchored by Gazprom Neft took place in Noyabrsk.

The main purpose of the agreements is focused on further development of economic ties between Gazprom Neft and the administrations of regional municipal units on a stable and long term basis as well as on social development of the municipal units territories.

The priority directions are a rational utilization of resources and lands, a comprehensive approach to mineral exploration at licenses, working out of programs for geological resources exploration and an effective use of mineral resources base, setting up conditions for a stable development of traditional branches of economy and ways of life of aboriginal small populations of the North.

According to the signed documents, Gazprom Neft, OJSC Sibneft-Noyabrskneftegas, LLC Zapolyarneft and OJSC Meretoyakhaneftegas are obliged to confirm the measures, which might lead to ecological or other consequences, with the administrations of municipal units in advance, as well as take part in working out of prognosis and realization of plans and programs of complex socio-economical development of municipal units.

In their turn, while developing and carrying out programs of territories' development the administrations of municipal units are obliged to consider the interests of Gazprom Neft and its subsidiaries.

The parties also signed supplementary agreements itemizing the measures of social development as well as fixing volumes and timing of funds' for realization of the agreements allocation.