Gazprom Neft and Government of the Orenburg Region Sign Partnership Agreement

Press-release

Within the framework of Sochi-2011 X International Investment Forum, a social and economic partnership agreement for 2011 — 2013 was signed between Gazprom Neft and the Government of the Orenburg RegionWithin the framework of Sochi-2011 X International Investment Forum, a social and economic partnership agreement for 2011 — 2013 was signed between Gazprom Neft and the Government of the Orenburg Region. Alexander Dybal, Gazprom Neft Deputy CEO, and Yuri Berg, the region Governor, set their names to the document.

The agreement provides for establishment of partnership relations between the parties aimed at a long-term and sustainable mutually advantageous cooperation. Gazprom Neft and the regional government will actively engage in investment and social projects implementation for the benefit of the Orenburg Region’s further development.

The signed document confirmed the parties’ commitment to support various business directions including geologic exploration and hydrocarbon production, raw refining and transportation using advanced technologies and ensuring ecological safety, and participation in social and charitable programs.

“For Gazprom Neft, the Orenburg Region is a new and promising production region. In early September, the company acquired the Tsarichanskoye field. Besides, Gazprom Neft operates in the Eastern part of the Orenburgskoye field and contemplates a further expansion of its presence in the region. Gazprom Neft’s regional policy is conventionally carried out in the conception of the interrelation between the business and the responsibility before the territory of presence. I am sure that the agreement based on the ground rules of mutually advantageous cooperation will support Gazprom Neft in contributing into the region’s further economic and industrial progress”, — Alexander Dybal pointed out.

Reference

In early September, Gazprom Neft acquired the Tsarichanskoye field, the company’s first producing asset in the Orengburg Region located relatively close to the Eastern part of the Orenburgskoye oil and gas condensate field. Starting from 2010, Gazpromneft-Angara, a Gazprom Neft’s subsidiary, operates in the Eastern part of the Orenburgskoye field under the management agreement. It is expected that Gazprom Neft’s acquisition transaction for Gazpromneft-Orenburg (a Gazprom Group’s entity) that holds a license for the Eastern part of the Orenburg field will be completed shortly.