Licensed Blocks in the Irkutsk Region and Evenkia

Developing resource base in the Irkutsk region and Evenkia is among Rosneft’ top priorities. The Company is particularly focused on extending exploration activities in the South of Eastern Siberia, which is expected to become a major source of long-term production growth. Rosneft believes that oil fields of this region will provide the bulk of crude to be fed into the East Siberia — Pacific Ocean pipeline.

Rosneft’s Eastern Siberian developments date back to late 2005, when the Company acquired a blocking stake in Verkhnechonskneftegaz, which held a development license to the Verkhnechonskoye oil and gas condensate field in the Irkutsk region. Rosneft has been implementing this project together with TNK-BP.

In December 2005, Rosneft won an auction of the exploration license to the East-Sugdinsky block neighboring the Verkhnechonskoye field. In 2006, the Company further extended its resource base in the South of East Siberia by acquiring licenses to the Sanarsky, Mogdinsky, Danilovsky, and Kulindinsky blocks located close to the Verkhnechonskoye field.

In 2006, the Company further extended its resource base in the South of East Siberia by acquiring licenses to the Sanarsky, Mogdinsky, Danilovsky, and Kulindinsky blocks located close to the Verkhnechonskoye field.

2007 was a milestone year for Rosneft in terms of developing its resource base in the region, as the Company acquired a number of strategic assets in the Irkutsk region. Thus, in July 2007, Rosneft won several auctions of exploration and production licenses to the Preobrazhensky, Verkhneichersky, and West-Chonsky blocks. To reduce geological and economic risks, licenses to the Verkhneichersky and West-Chonsky blocks were acquired via a joint-venture with CNPC, Vostok-Energy.

Rosneft also won several auctions and acquired among other assets hydrocarbon licenses to five blocks in Evenkia and the Krasnoyarsk region. These blocks are located close to the Yurubcheno-Tokhomskoye field developed by East-Siberian Oil and Gas Company, a 100% subsidiary of Rosneft acquired in 2007.

In February 2008, the Company won an auction for rights to carry out geological studies, exploration and production of hydrocarbons at the Umotkinsky area located close to the Verkhnechonskoye field. The estimated resources of the area exceed 700 mln barrels (100 mln tonnes) of oil equivalent.

Thus, over a short period of time Rosneft has built a strong exploration portfolio in the South of East Siberia, with combined prospective resources of 7.7 bln barrels of oil and 0.8 tcm of gas (DeGolyer & MacNaughton’s mean estimate as of December 31, 2009).

Drilling of Mogdinskaya prospecting well No.6 in 2009 led to the discovery of a new field, which was named in honor of Nikolai Savostiyanov. Recoverable Ñ1 and Ñ2 reserves at the field (Russian classification) are estimated at 1.2 bln barrels (162.1 mln tonnes) of oil, so it should be classed as strategic. A horizontal borehole will be drilled from Mogdinskaya well No.6 in 2010 in order to study and assess potential for oil production at the field.

In 2009, Rosneft was engaged in large-scale exploration activities at the previously acquired blocks. The Company carried out 2,162 linear km of 2D seismic surveying in Irkutsk Region. Electrical exploration work and processing and complex interpretation of geophysical material were completed at the East-Sugdinsky area. Geochemical studies were completed at the Preobrazhensky area, and preparatory work was carried out for construction of two prospecting wells at the East-Sugdinsky and Mogdinsky areas.

LLC Vostok Energy, which is a joint venture between Rosneft and the China National Petroleum Corporation (CNPC), carried out 593 linear km of 2D seismic exploration in 2009, including 345 linear km at the West-Chonsky license area and 248 linear km at the Verkhneichersky area. Drilling of a prospecting well at the West-Chonsky area is scheduled in 2010.