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GAZPROM

October 6, 2004

Results of the meeting of the Task group for Gazprom restructuring

Today at Gazprom’s head office, Mr. Alexander Ananenkov, Gazprom’s Management Committee Deputy Chairman, led the meeting of the Task group for enhancing the Gazprom corporate governance structure.

The participants of the meeting discussed the proposals prepared by the Subgroup for gas, gas condensate and oil production regarding the division of multi-discipline entities by production activity, the separation of the units involved in servicing the core activities as well as social sphere facilities from the corporate structure and assets of oil and gas producing companies, the division of operations in the telecommunications sector, the improvement of the logistics efficiency, the enhancement of the Gazprom facilities’ safety, etc.

The Task group has elaborated the package of documents on establishing, based on the Gazprom-controlled oil assets, the Gazpromneft oil company, a wholly owned subsidiary of Gazprom. The Task group has also adopted a decision to set up Gazpromseverpodzemremont and Gazpromyugpodzemremont, the daughter companies of Gazprom, which will be responsible for underground repair of wells at fields and underground gas storage facilities.

To implement of the decisions approved, relevant orders have been given to responsible divisions of Gazprom.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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