General Agreement for Cooperation 2009 – 2011 Signed Between Gazprom Neft and YaNAO Administration

Gazprom Neft and the Administration of Yamalo-Nenetskiy Autonomous District (YaNAO) have concluded a General Agreement for Cooperation for 2009 – 2011. The document was signed by JSC Gazprom Neft Chairman of the Management Board Alexander Dyukov and the Governor of YaNAO Yuriy Neyelov.

Primary areas of cooperation between the Administration of the Autonomous District and JSC Gazprom Neft lay in the sphere of social and economic progress of the area, support of investment, scientific and technical potential of the region and stimulation of the petroleum branch growth. Within the framework of the Agreement, Gazprom Neft will particularly finance construction and capital repairs of social objects in YaNAO municipalities, provide charity support to the indigenous minorities of the North, participate in implementation of social and cultural projects and support popular, children and juvenile sports.

A particular attention in the Agreement is paid to the development of the hydrocarbons production resource potential. The Parties will work upon increasing of the bulk of investments steered into oil and gas fields exploration, as well as upon creating of favorable conditions for geological surveys of license areas, which will contribute to the rehabilitation of mineral resources. Gazprom Neft together with the Administration of the Autonomous District takes interest in increasing of hydrocarbons production in accordance with existing project documentation and provisions of the licenses for the right to use subsurface mineral resources.

Besides, in view of cooperation the Parties will focus on realization of programs in the sphere of environmental protection and rational use of natural resources. Gazprom Neft and YaNAO Administration will look into the possibility of establishing of a fund for innovational development in order to form the innovations infrastructure, support and financing.

The Chairman of the Management Board of Gazprom Neft Alexander Dyukov stated: “Yamalo-Nenetskiy Autonomous District represents one of the key regions for Gazprom Neft as it allocates the Company's core business in the sphere of upstream. We are concerned with further social and economic development of the region and hope for a widening of our cooperation along all the lines of activities”.