Personnel

Rosneft believes that its steady business growth is essentially a result of hard work and dedication of its entire staff. Accordingly, the Company strives to adequately recognize the efforts of everyone involved. As a most valuable intangible, personnel provide a significant and lasting contribution to the Company’s shareholder value and performance. Rosneft is committed to ensuring equal opportunities and competitive reward for all its employees.

Sustainable development over the long term, one of Rosneft’s key priorities, depends on constant improvement of responsible work practices throughout the Company’s operations and enhancement of the overall labor efficiency. Therefore, Rosneft is focused on implementing the highest standards of business conduct, relevant compensation and performance incentive schemes, as well as comprehensive social measures to improve the quality of life of its employees and their families. Effective motivation of personal effort is central to Rosneft’s HR policy, and is crucial to continuously improving overall Company performance.

In 2007, Rosneft employed an average of 106,000 people, including 86,500 at subsidiaries and 19,500 at affiliates. The Company’s employees work in almost every region of the Russian Federation.