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1. ADDRESS TO SHAREHOLDERS, INVESTORSá& PARTNERS
Path: Company /  ADDRESS TO SHAREHOLDERS, INVESTORS & PARTNERS

... investors! Our Company gave aárecord-breaking performance onáall fronts iná2011, leading the Russian industry byárates ofágrowth of production, refining, and sales through premiu... ... products, and has become the Russian leader byáproduct sales inápremium segments (compared with the third position byárefining volumes). Foreign business has shown good progress: our Serbian subsidiary, NIS, improved its production and financial performance iná2011 and work continued onáprojects ináIraq, Venezuela, Cub...


2. Development Strategy
Path: Company / DEVELOPMENT STRATEGY

... large-scale development ofáthe business aims toáprovide the highest aggregate income for shareholders ofáany Russian oil company, while maintaining its place ináthe to... ... player, with aáregionally diversified asset portfolio over the entire value chain, seeking active involvement ináregional development projects, and maintaining aáhigh degre... ... Business Targets Production 20-year reserve life 50% or more of total production to be located at fields in initial development phases 10% share of production to come fro...


3. Geological exploration & productionáof crude oil & gas
Path: EVENTS 2011 / GEOLOGICAL EXPLORATION & PRODUCTION OF CRUDE OIL & GAS

... The Companyĺs reserves-to‑production ratio should remain atáthis level for atáleast 20áyears. Projects ináinitial stages ofádevelopment should represent atáleastá50... ... Company also plans toáexpand its asset portfolio byáacquisition ofáasáyet unallocated rights toásub-soil areas, held byáthe Russian Government, asáwell asábyáasset purchase... ... ináRussia isáproduced byáthree subsidiaries: JSC Gazprom Neft-Noyabrskneftegaz, LLC Gazprom NeftŚ Khantos, and LLC Gazprom Neft-Vostok. The companies are developing fields ináYamal-Nenet...


4. Premium Business Segments
Path: EVENTS 2011 / PREMIUM BUSINESS SEGMENTS

... geographical reach, and increasing market share inápremium segments. AIRCRAFT REFUELING Share of theáRussian retail market, % Source: Company data download xls Sales of marin... ... refueling complexes. The company plans toáestablish aáchain ofá52árefueling complexes (20áofáits own, and 32áleased) ináRussian and foreign airports. Goal: Raising sales toá5ám... ... (18ácities) iná2010. The company started toáoffer refueling services iná2011áat the airport which serves the city ofáUlyanovsk ináthe Volga region ofáRussia. Gazprom Neft Aer...


5. Innovation
Path: EVENTS 2011 / INNOVATION

... operations, including work beyond the Arctic Circle ináthe Pechora Sea, Kara Sea and Barents Sea; implement projects outside Russia; and gain competence ináproduction ofánon-conventiona... ... within the Company. The forecast effect ofáfull-scale adoption ofáthe technology inálow-yield complex wells and inávariable flow stock isáRUB 148ámn iná 2014-2016. INNOVATIO... ... requirements for fuel quality, toáaddress the implications ofálevelling ofácustoms duties payable onádark and light petroleum products, toámeet demand for new petroleum refinin...


6. Investment Activities
Path: EVENTS 2011 / INVESTMENT ACTIVITIES

... investment plans set out in the Companyĺs approved Strategy; To implement the most efficient projects, and to create an optimized investment portfolio; To implement collegiat... ... Sale ofáaáseries ofáoil field service assets. Total investments ináthe purchase ofáassets, less revenues from sale ofáthe oil field service businesses, were USD 1.0ábn; investment... ... as well as fields in Orenburg Region); Implementing major foreign petroleum production projects in Venezuela, Cuba, Iraq and Equatorial Guinea; Retrofitting oil refinerie...


7. Key Risk Factors
Path: MD&A / KEY RISK FACTORS

... subsidiaries/associates. Further expansion ofáIRMS scope: IRMS extended toá20ámore business entities (subsidiaries/affiliates, and major projects) and 2ásub-divisions directl... ... Company has noácontrol over the infrastructure ofáthese monopolistic providers, nor can itácontrol the tariff rates payable. Tariff rates are controlled byáRussian Governmen... ... sales arranged by the Russian Government; Purchase of other companies that own sub-soil licences or assets related to production of hydrocarbons; Implementation of foreig...


8. Large transactions & related-party transactions
Path: Appendix / Large transactions & related-party transactions

... party to any transactions that could qualify as large transactions under effective Russian law. List of related party transactions in 2011, approved by governing bodie... ... Petroleum Development N.V. ľ 1,501,654,823.86 rubles(99%); JSC Gazprom Neft ľ 15,168,240.54 rubles (1%). The contributions shall be refunded to original owners in their entiret... ... Russian rubles; Effect of contract: from signing until December 31, 2013; payments to be made until they have been made in full. The member ofáthe Management Board ofáJS...


9. Share market & capitalization
Path: Shareholder Information / SHARE MARKET & CAPITALIZATION

... iná2010. American depositary receipts (ADRs) issued onáshares ofáGazprom Neft represented 0.2% ofátotal foreign ADR trading ináthe IOB system onáthe London Stock Exchang... ... strong fundamental drivers for growth ofáits capitalization iná2012. The Company believes itáhas the best value-added business among Russian oil companies ináterms ofárefining depth, sales capacity, and new oil production projects ináRussia which, with expecte...