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Rosneft Oil Company

December 14, 2005

Rosneft and the Khanty-Mansi Autonomous District develop cooperation

Rosneft, its subsidiary Yuganskneftegaz and the Government of the Khanty-Mansi Autonomous District (KMAD) signed a protocol for 2006 on December 14 in Moscow, in pursuance of the tri-lateral Cooperation Agreement concluded in March this year.

As agreed, Yuganskneftegaz is to produce 56 million tons of oil and 1.4 billion cubic meters of natural gas in the KMAD next year. The companyís planned investments total 40.3 billion rubles.

As part of its program for the construction of social and cultural facilities in the district, Yuganskneftegaz intends to invest 265 million rubles ó versus the 230 million invested in 2005. 60 million rubles will be spent on the construction of social and cultural facilities in the Seleyarovo village (a school and kindergarten, housing for the indigenous population) and the village of Lugova (school). A pharmacy and a library are to be built in the village of Salym at a cost of 10 million rubles, and an indoor ice rink will be built in the village of Poikovsky (50 million rubles). Yuganskneftegaz is set to invest 70 million rubles in the town of Nefteyugansk in the construction of a fitness center. 50 million rubles will be spent in the town of Pyt-Yakh on the construction of a health care center. Yuganskneftegaz also intends to contribute to the financing of the construction of a park and recreational area in the town of Nefteyugansk in 2006-2008.

On its part, the KMAD government will retain the most-favored tariffs for Yuganskneftegaz for its investments in the districtís social sphere.

In signing the protocol, the parties confirmed their firm intentions to expand their mutually beneficial collaboration, aimed at the future stable development of the KMADís economy, the effective development and consolidation of the regionís mineral reserves.

The protocol was signed on behalf of the KMAD by the Chairman of the Yugra Government, Alexander Filipenko, on behalf of Yuganskneftegaz by its CEO, Vladimir Bulba, and on behalf of Rosneft by its President, Sergei Bogdanchikov.

 

 

 

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