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Rosneft and Saras Sign Agreement on Cooperation for the Purpose of Establishing a JV

18 December 2012

On 15 December 2012, Rosneft and Saras S.p.A. executed an agreement setting forth their intention to create a 50/50 Joint Venture for processing crude oil and further sale of petroleum products. The agreement on cooperation was signed in Munich by Igor Sechin, President and Chairman of the Management Board at Rosneft, and Gian Marco Moratti, Chairman of the Board of Directors at Saras S.p.A.

The Joint Venture is meant to allow the parties to capitalise on their respective upstream and downstream positions, focusing around Rosneft’s unique access to crude oil and other feedstock, and Saras’ supply and trading opportunities around the Saras refinery. The parties also have the intention to enter and develop new oil product markets and activities to complement the existing marketing channels of Saras.

December 18, 2012
Rosneft Information Division
Tel.: +7 (495) 411 54 20
Fax: +7 (495) 411 54 21

www.rosneft.com

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.