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Rosneft to Strenghten Cooperation with PetroVietnam

15 May 2013

OJSC Oil Company Rosneft (Rosneft) and Vietnam Oil and Gas Corporation “PetroVietnam” (PetroVietnam) today signed a Memorandum of Understanding (MOU) in Sochi to strengthen cooperation between the two oil and gas companies.

The MOU – signed by Rosneft President and Chairman of the Management Board Igor Sechin and PetroVietnam Chairman of the Board of Directors Phung Dinh Thuc in the presence of President of Russia Vladimir Putin and Vietnam’s Prime Minister Nguyen Tan Dung – acknowledges both parties’ intention to expand their cooperation in upstream and downstream segments of the oil and gas industry in Vietnam, Russia and third countries.

Commenting on the signing, Igor Sechin said: “We are happy to cooperate with PetroVietnam across different facets of the petroleum business in both Vietnam and Russia, and support both parties’ active work to fulfil our respective objectives for growth”.

Note to editors:

TNK Vietnam is a 100% indirect subsidiary of Rosneft. After completing the acquisition of TNK-BP in March 2013 Rosneft became the world’s largest publicly traded oil and gas company by hydrocarbon reserves and production with daily production reaching 4.6 million barrels of oil equivalent per day.

Rosneft has entered Vietnam market through TNK-BP’s subsidiary, TNK Vietnam, which holds 35% equity ownership in and is the Operator of Block 06.1 and 32,67% shares in the Nam Con Son Pipeline that transports gas and condensate from offshore blocks to Dinh Co Terminal and to Phu My Power Complex for electricity and fertilizers production.

Rosneft Information Division
Tel.: +7 (495) 411 54 20
Fax: +7 (495) 411 54 21
May 15, 2013

TNK Vietnam Nguyen Minh Huyen
Tel: 84-38265325 ext. 2259

TNK-BP Public Affairs Division
Tel. +7 495 363 2757

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.