Corporate Governance

STRUCTURE OF GAZPROM NEFT’S GOVERNING BODIES:

The General Meeting of Shareholders is the supreme governing body and covers the most important issues of Company business. The Annual General Meeting of Shareholders of Gazprom Neft was held on 09.06.2011 (Minutes No. 0101/01 dated 14.06.2011, http://ir.gazprom-neft.ru/corporate-governance/).

The Board of Directors exercises general and strategic management in order to increase the Company’s shareholder value. The Board of Directors monitors the work of the Company’s executive management bodies to ensure such work is conducted efficiently.

The Management Board is a collegiate executive body that manages the Company’s current business

The Chief Executive Officer is the Company’s principle executive manager and acts as Chairman of the Management Board