Depositary receipt program

Programs ofAmerican and Global Depositary Receipts (ADRs and GDRs) issued onCompany shares continued in2011. The receipts were traded onover-the-counter markets intheUS, the UK, Germany and elsewhere. One ADR isequivalent tofive common shares ofGazprom Neft. Atthe end of2011, the total number ofADRs issued oncommon shares was equivalent to93mn shares (2.0% ofthe Companys registered capital).

Trading inGazprom Neft ADRs amounted toUSD 1,209mn in2011, ofwhich USD 1,123mn was through the IOB system ofthe London Stock Exchange, USD 44mn onthe OTCQx market, and USD 42mn onother markets inEurope (mostly Germany).

The depository for receipts onshares ofGazprom Neft isthe Bank ofNew York Mellon (101 Barclay Street, 22nd Floor, New York, New York, 10286).

Gazpr om Neft ADRs
Ticker ID GZPFY (GAZ, SCF) Closing price on31.12.2011 USD 23.50
CUSIP 36829G107 52-week max. USD 27.89
Ratio 1 ADR = 5 common shares 52-week min USD 16.10
Effective since April 20, 1999 Monthly trading on the IOB USD 95 mn
SEDOL 5109407
ISIN RU0009062467
Depository bank BNYMellon