Igor Sechin Appointed President of Rosneft

Igor Sechin Appointed President of Rosneft

Rosneft's Board of Directors has voted unanimously to appoint Igor Sechin President of the Company. A corresponding directive has been signed by Russian Prime Minister Dmitry Medvedev.

Mr. Sechin thanked Eduard Khudainatov for his work as President of the Company and announced Mr. Khudainatov's appointment as First Vice President and Deputy Chairman of the Management Board.

Mr. Sechin highlighted the Company's strategic goals, including the implementation of programmes to modernise the Company's refining division, develop fields and boost oil production, as well as a set of measures to increase environmental and industrial safety at its facilities. Implementation of agreements to explore offshore zones with leading global energy companies is of great significance and will ensure Rosneft's growth and development for many years to come.

In addition Mr. Sechin asked the Company's management to prepare suggestions on how to improve the efficiency of Rosneft's business units and subsidiaries.

Rosneft Information Division

Tel.: +7 (495) 411 54 20

Fax: +7 (495) 411 54 21

May 23, 2012

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