The Board of Directors of Severneftegazprom elected Stanislav Tsygankov, Head of the Gazprom International Business Department as the company's Director General.

Background:

Severneftegazprom holds a license for geological exploration and hydrocarbons production within the Yuzhno-Russkoye subsurface block.

The Yuzhno-Russkoye oil and gas field is located in the Krasnoselkupsky District of the Yamal-Nenets Autonomous Okrug. The start-up complex of the field was put into operation in October 2007. The annual design capacity is 25 billion cubic meters of gas.

Major activities of Severneftegazprom:

- infrastructure creation at the Yuzhno-Russkoye field and the field development;

- natural gas production, collection, treatment and marketing;

- prospecting and geological exploration;

- construction management.

Severneftegazprom currently has the following shareholding structure: Gazprom holds 50 per cent plus six ordinary registered shares, BASF SE holds 25 per cent less three ordinary registered shares and plus three preference non-voting shares, E.ON AG holds 25 per cent less three ordinary registered shares and plus three preference non-voting shares.