1. Development Strategy

... international player, possessing aregionally-diversified portfolio ofassets across the entire value chain, actively participating inregional development, and with ahigh degree ofsocial and environmental responsibility. Strategic development Inthe framework... ... work onthe Cuban continental shelf, and the Cuban government issued apermit for Gazprom Neft tojoin the project and extended the first stage ofgeological survey work. PLANS FOR 2012: FURTHER ACTIONS TO IMPLEMENT MAJOR PROJECTS Cuba project Drill first...

2. Oil refining

... commission refining for third parties), which is17% less than the last year indicators. This decrease isattributable toplanned repairs atPanchevo Refinery. Structure of Gazprom Nefts petroleum product outputs, mn t Source: Company data download xls... ... and maintain its current production-to-refining ratio. The Company intends tofocus onrefining development priorities, which include greater efficiency indomestic refining and increase ofrefining capacity inEurope. The objectives ofcurrent work bythe...