Chairman of Rosneft Management Board Igor Sechin Holds a Working Meeting at RN-Yuganskneftegaz

A meeting to discuss adjustments in the Company's Business Plan following macroeconomic changes was held in Nefteyugansk a month ago, a goal was set to improve efficiency, increase production and reduce costs. The rotation of managers at major production subsidiaries is intended to encourage the achievement of those tasks.

The meeting was attended by KhMAO-Yugra Acting Governor Natalia Komarova. Separate talks were also held between Igor Sechin and Natalia Komarova to discuss the implementation of the Cooperation Agreement between KhMAO-Yugra and Rosneft, the workload at local enterprises and cooperation with contractors.

RN-Yuganskneftegaz is a leading production subsidiary of Rosneft, one of the largest oil producing entities in Russia. The company is operating in Nefteyugansk, Pyt-Yakh, Surgut and Khanty-Mansi regions of KhMAO-Yugra.

The subsidiary produced 64.48 mt in 2014, 24% of total production in KhMAO-Yugra and more than 12% of that across entire Russia.

Field development and exploration is underway in 32 license areas. Category АВС1 remaining recoverable oil reserves in RN-Yuganskneftegaz's fields amounted to 1.9 billion tons as of 01.07.2015.