Rosneft

Earnings Release • Feb 16, 2016

National Storage Mechanism | Additional information

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RNS Number : 1959P

OJSC OC Rosneft

16 February 2016

Rosneft Reviewed the Results of DeGolyer & MacNaughton's Independent Audit of its Hydrocarbon Reserves.

According to the results of the audit performed by DeGolyer & MacNaughton under the SEC (United States Securities and Exchange Commission) life-of-field classification, as of December 31, 2015, Rosneft proven hydrocarbon reserves stood at 34,465 mmboe (4,654 mmtoe). The Company's hydrocarbon reserves growth accounted 488 mmboe (59 mmtoe). Reserves growth was achieved notwithstanding a significant decrease of average benchmark crude oil prices. Rosneft's hydrocarbon reserve replacement ratio under the SEC classification amounted to 124%*. Following 2015 Rosneft's hydrocarbon reserve life under the SEC classification totaled 19 years.

Under the PRMS (Petroleum Resources Management System) classification hydrocarbon reserves by the 1P category as of December 31, 2015 stood at 42,917 mmboe (5,808 mmtoe), by the 2P category - 76,171 mmboe (10,274 mmtoe), by the 3P category - 108,601 mmboe (14,683 mmtoe). Reserves growth by 3P category amounted to +2%.

Outstanding results and reserves growth were achieved due to the implementation of optimal new zones' development plans at operated fields, efficient efforts aimed at the enhanced recovery and significant achievements in the area of hard-to-recover reserves development in the Company's operating regions.

Operational excellence, coordinated teamwork, efficient reserves management in 2015 allowed the Company to successfully develop in concordance with its strategic goals and to confirm its leading positions among world publicly traded companies in terms of proven hydrocarbon reserves and hydrocarbon resources

*in metric units

Rosneft Information Division

Tel.: + 7 (499) 517-88-97

February 16, 2016

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

This information is provided by RNS

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