Sochi, February 21, 2014. Rosneft President, Chairman of the Management Board Igor Sechin and Mitsui & Co., Ltd. President and CEO Masami Iijima signed a Memorandum of Understanding.

The document implies the creation of a joint working group in order to work out specific options of cooperation in the area of building and managing delivery chains of high-tech oil and gas pipes, setting up management of delivery chains and services concerning various Russian offshore exploration projects, and considering the ways of cooperation in the areas of oilfield services development and efficiency and quality improvement.

BACKGROUND INFORMATION:

Mitsui & Co., Ltd is a diversified trading company, central part of the Mitsui Group, an amalgamation of manufacturing, trading and financial companies which comprises over 500 consolidated subsidiaries in Japan and worldwide, engaging in: integrated projects, in particular, in the energy and automotive industries; metallurgy, aerospace, mining and chemical industries; projects in the areas of finance, information technology, trading, transport, infrastructure development, etc.

The company is actively involved in the LNG business and in natural gas production projects in Australia, Russia, and other countries. In Mozambique, Mitsui is involved in a natural gas production project, currently in the exploration stage. The Company also holds stakes in LNG plants in Russia (Sakhalin-2), Abu-Dhabi (UAE), Australia, Qatar, Oman, and Equatorial Guinea. Owns a fleet of 4 LNG tankers.

In FY2012, company revenues amounted to USD50.2 bln.