Gazprom’s Headquarters today hosted a working meeting between Alexander Ananenkov, Deputy Chairman of the Company’s Management Committee and Sergey Kudryashov, First Vice President of Rosneft.

The parties addressed issues surrounding the progress in interaction between Gazprom and Rosneft as part of the Agreement on Strategic Partnership between the companies, including the Eastern Gas Program.

Reference:

The Agreement on Strategic Partnership between Gazprom and Rosneft was signed on November 28, 2006 for the period through 2015 with potential five-year extensions.

Pursuant to the Agreement, Rosneft and Gazprom will promote cooperation in hydrocarbon exploration, production, transportation and processing; natural and associated gas marketing; electric & thermal power generation and marketing; oil & gas field and power equipment manufacturing; production capacity and infrastructure development; sci-tech, information, environmental, social and staffing support.

The Agreement sets out inter alia that the parties are going to jointly participate in competitions and auctions so as to obtain subsurface use rights as well as in joint projects. Rosneft and Gazprom will coordinate their activities and exchange geological information on jointly implemented projects when performing prospecting activities as well as developing geological and geophysical information databases. At the same time, Gazprom and Rosneft intend to cooperate as part of projects in Eastern Siberia and the Far East.