Double holiday of oilmen

The volume of oil production by the Company’s assets is over 13.5 million tons, while the gas production is over 2 bcm. The personnel of the Company count over 17 thousand employees.

RussNeft is committed to the principal of socially responsible business. Local budgets in a number of Russian regions are greatly refilled in virtue of the Company’s operations which also create new jobs. RussNeft implements large-scale social programs in most regions of its presence based on agreements with administrations of RF constituent entities. The Company intends to continue extension of implementation of its programs for social support, sponsorship and charity. But all the above stated fully depends of the principal – oil and gas production. This is fundamental.

Our calendar sometimes has unexpected but pleasant coincidences. It becomes normal when the oil and gas industry day which is celebrated in the beginning of September coincides with the Knowledge day almost every year.

This year, the management of OAO Saratovneftegaz (OAO NK RussNeft subsidiary) decided to provide a direct charity aid by the beginning of the academic year to the schools of all 14 municipal districts of Saratov and Volgograd regions where the Company performs its operations. The allocated funds were dedicated to the beginning of the new academic year. Each regional administration could independently decide how to spend the funds: purchase gifts for the first-grade pupils and their tutors, hold ceremonial school parades and festive concerts, provide direct material aids and honor to the school veterans, motivate the best teachers. It seems that the assistance from the Saratov oilmen will help to create a really festive mood for celebration of the Knowledge day in many provincial schools of Saratov region.

This action is merely a small part of the large-scale charity program systematically implemented by OAO NK RussNeft and OAO Saratovneftegaz in the areas of their operation. Substantial material aid is given to the social facilities inherently suffering from budgetary provisions like kindergartens, schools, hospitals, sport clubs, cultural centers. For instance, one of the most important projects being currently carried out in Saratov for the purpose of the social infrastructure development is a construction of a unique kindergarten for 320 children in Yubileiny. NK RussNeft decided to allocate notable funds for construction of the kindergarten in one of the most populated, young and prospective districts of the district center. This will allow to decrease significantly the social tension caused by the critical shortage of the local kindergartens capacities.

A universal sport center was opened this summer in Volgograd region Staropoltavsky municipal district center which was built with financial participation of OAO Saratovneftegaz. In 2010, the oil company donated 400,000 rubles for development of the design and estimate documentation for the modern sport complex. OAO Saratovneftegaz allocated other 500,000 rubles in 2011 within its charity program for development of the design and estimate documentation for a swimming pool in Staraya Poltavka to commence construction in near future.

Over 20 million rubles overall were allocated by the Company, its subsidiaries and affiliated companies in 2011 for implementation of the social and economic programs, charity and sponsorship projects in the region in accordance with the executed Cooperation Agreement between the Saratov regional government and OAO NK RussNeft.