Activity of Strategic Planning Committee

Actions by the Strategic Planning Committee were based on approved semi-annual plans developed by the Committee. The Committee held five meetings during the reporting period.

The Committee prepared recommendations to the Board of Directors on the following issues: approval of an integrated regional policy for the Company; R&D objectives, approval of the Company’s Integrated Innovation Program and structure of the corporate system for R&D and innovation management; forecast business results for the first quarter of 2010; upgrading and installation of new refining facilities at OJSC RN-Tuapse Refinery; implementation of the Volga Petrochemicals Company project; implementation of the business project for construction of a refinery in the Republic of Chechnya; forecast outcomes of the Rosneft business plan for 2010; restructuring of the assets of companies in Rosneft Group; approval of the business plan for 2011; and the IT development strategy of Rosneft.

In compliance with the instruction issued by the Board of Directors on December 28, 2009 (Minutes ¹17), the following large projects were considered at a joint meeting held by the Audit Committee and the Strategic Planning Committee on April 23, 2010:

• development of the Vankor field;
• development of the Yurubcheno-Tokhomskoye field;
• upgrading and installation of new refining facilities at LLC RN-Tuapse Refinery;
• upgrading and development of the Samara group of refineries, the Achinsk Refinery, Angarsk Petrochemicals Company and the Komsomolsk Refinery.

The Chairman and members of the Committee held regular working meetings in the course of the year with senior managers of the Company, and with heads of structural subdivisions involved in business planning and development of the Rosneft Development Strategy.

In compliance with an instruction by the Board of Directors of Rosneft from November 26, 2010 (Minutes ¹23), the Committee reviewed a report in December 2010 on the first stage of work on formulation of the Rosneft Strategy for the period up to 2030.