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Stock and Resources

In 2016, the Company developed in accordance with its strategic goals and maintained its leading position in terms of proved hydrocarbon reserves among the world's public oil companies.

According to the audit performed by DeGolyer & MacNaughton, assessing the the cost-effective field development throughout the field service life, as of December 31, 2016, the proven hydrocarbon reserves of Rosneft, taking into account the Bashneft assets, classified under the SEC (Securities and Exchange Commission USA) amounted to 37 772 million barrels OE (5 111 million toe). The hydrocarbon reserves increased by 970 million barrels OE (131 million TOE) or 3%*. The replacement factor for proven hydrocarbon reserves under the SEC classification was 148%*. The organic reserve replacement ratio was 140%. As a result of 2016 operations, Rosneft’s proven hydrocarbon reserves under the SEC classification were estimated as sufficient for 19 years.

According to the PRMS classification (Hydrocarbon Management System), as of December 31, 2016, hydrocarbon reserves of category 1P amounted to 46,075 million barrels OE (6,250 million TOE), category 2R - 82,087 million barrels OE (11 092 million TOE), category 3P - 116 758 million barrels OE (15 794 million TOE). The 1H stock increased by 2%; the 2P reserves increases by 4%, the total category 3P reserves increased by 3% * in 2016.

* - the figures are calculated pro forma, taking into account the Bashneft assets in 2015 and 2016.