Yesterday, the Board of Directors of JSOC Bashneft has reappointed Alexander Korsik as President of the Company until April 2017

The issue had been referred to the Board of Directors for consideration as the three-year contract with Alexander Korsik, who has been the head of Bashneft since April 2011, is due to expire soon.

Alexander Korsik was born in 1956. He graduated from the Bauman Moscow State Technical University and the Diplomatic Academy of the Ministry of Foreign Affairs of the USSR. Between 1979 and 1995 he worked in the civil service. From 1995 till 1997 A. Korsik was the Deputy General Director of CJSC KomiTEK-Moscow and a member of the Board of Directors of OJSC Oil Company KomiTEK. From 1997 till 1999 he headed the Department for Strategic Development of OJSC Sibneft; between 1999 and 2005 Mr. Korsik was the First Vice President of OJSC Sibneft. In 2006 A. Korsik was appointed Deputy Chairman of the Management Board of Renaissance Capital Investment Group. In 2006-2007 he headed ITERA IGC. From 2007 through January 2009 Mr. Korsik chaired the Board of Directors of OJSC RussNeft. Since 2009 he has been the Senior Vice President, Head of the Fuel and Energy Business Unit of OJSC JSFC Sistema. Since April 2011 A. Korsik has been the President of JSOC Bashneft.