Housing Assistance

Considering high interest rates on mortgage loans and the lack of housing for rental in small towns and settlements, the Company is implementing a comprehensive housing assistance program that includes:

• mortgage;
• housing construction;
• participating in the Federal housing program being implemented on Sakhalin;
• providing corporate apartments.

It is planned that more than RUB 12 bln will be spent on implementation of the housing program in 2009– 2013, with an emphasis on mortgage development, which should improve the housing situation for 5,000 employees’ families.

The mortgage scheme involves an interest-free loan to finance 25–35% of apartment price and a long-term loan (up to 17 years) bearing a soft interest of 8–10% a year in rubles. Details of Rosneft’s corporate mortgage scheme are presented in Sustainability Reports.

In the framework of the national priority project Affordable and Comfortable Housing, Rosneft is actively engaged in housing construction in localities where residential stock is low or prices are too high, such as Grozny, Neftekumsk, Izberbash, Gubkinsky, Usinsk, etc. Certain categories of employees are entitled to housing subsidies from Rosneft when buying a new apartment.