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Licensing

In the course of our operations, the Company adheres to highest standards of subsoil user responsibility and the principle of strict compliance with all licensed obligations.

Pursuant to the Russian legislation, any rights for subsoil use are granted under a special state permit in the form of a license. A license is issued by the competent authorities and contains information on the subsoil area being developed, time terms, financial and other provisions for subsoil use. The Company owns a number of licenses issued by the state authorities for geological survey, exploration and production of raw materials at oil and gas fields within the territory of the Russian Federation and its continental shelf.

Rosneft is the largest subsoil user in the Russian Federation. The company owns over 30% of the licenses for hydrocarbons production in the entire distributed reserves.