Vankor Group of Licensed Blocks

Rosneft currently holds licenses to 14 blocks adjacent to the Vankor field — Sovetsky, Lebyazhy, West-Lodochny, East-Lodochny, Nizhnebaihinsky, Poliarny, Samoedsky, Baikalovsky, Peschany, Protochny, Vadinsky, Tukolandsky, Pendomayakhsky, and North-Charsky.

According to DeGolyer & MacNaughton, mean estimate of total prospective resources of the above blocks, as of December 31, 2008, was 3.2 bln barrels of crude oil and more than 180 bcm of gas.

These licensed blocks are of primary importance for Rosneft, as they are located in proximity to the main Vankor field, where the Company completed main infrastructure development, including the 550-km Vankor — Pur-Pe pipeline connecting the Vankor field with Transneft pipeline system.

Seeking to create unified seismic interpretation projects, in 2007, Rosneft was actively engaged in processing and interpreting earlier obtained data for the West-Lodochny, Sovetsky, Polyarny, Nizhnebaikhsky, Lebyazhy, Peschany, Baikalovsky, Protochny, Samoedsky, and North-Charsky blocks, as well as in shooting additional 2D seismic.

In 2008 Rosneft continued 2D seismic surveying, which totalled 662 linear km. The Company also drilled several prospecting wells. Exploration well No.16 at the Vankor field penetrated productive strata, and its testing is scheduled in 2009. The testing of the well Khikiglinskaya No.1 is also scheduled in 2009. The well Baikalovskaya No.1 was tested and discovered a new field in the beginning of 2009. The reserves of the field are planned to be assessed in the nearest future.

Rosneft believes that significant commercial hydrocarbon reserves can be discovered within the Vankor group, which will make Vankor a fully-fledged oil and gas province and significantly contribute to the efficiency of this massive project due to synergies from convenient access to the unified Vankor infrastructure.

Exploration activities within the Vankor group of licensed blocks