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Rosneft and Republic of Bashkortostan Signed Cooperation Agreement

25 January 2017

Rosneft and Republic of Bashkortostan signed cooperation agreement arranging general principles of cooperation between the parties.  The document was signed by Rosneft Chief Executive Officer Igor Sechin and Head of Bashkortostan Rustem Khamitov.

The Agreement is aimed at implementing industrial, financial and social programs by the parties that will contribute to integrated development of the region as well as to favorable environment for business activities.  The document specifically underlines the social profile of the resolutions and actions made.

Pursuant to the document signed, the parties intend to develop cooperation in a wide spectrum of areas, including social and economic programs and cultural projects, implementation of innovative projects, use of best practices and technologies,   minimization of the environmental impact and efficient use of natural resources.

The Company and Republic of Bashkortostan intend to cooperate in the production area, i.e. implement joint projects for construction and upgrade of oil and gas facilities and creation of favorable conditions for crude hydrocarbons exploration and production.

A particular attention in the Agreement is paid to provision of the Bashkortostan consumers with high quality oil products, development of the Company’s retail sites network, production and use of the advanced road-binding materials, implementation of the projects for development of road-transport infrastructure in view of the increasing road transport demands in the region.   Cooperation in the area of import substitution of lubricants and special liquids at industrial facilities and transport will also serve this purpose.

The document also foresees joining efforts in the area of energy efficiency improvement, in the area of education and scientific and technological activities, import substitution and localization of equipment and technologies.      

 

Rosneft Information Division
tel.: 7 (499) 517-88-97
January 25, 2017

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.