Bashneft and Sberbank of Russia Sign a Strategic Cooperation Agreement

Today, Bashneft and OJSC Sberbank of Russia have concluded a Strategic Cooperation Agreement until 2018 as part of the 19th Saint Petersburg International Economic Forum. The document was signed by the Company’s President Alexander Korsik representing Bashneft and Maxim Poletaev, First Deputy Chairman of the Executive Board, representing Sberbank of Russia.

The Agreement provides for greater cooperation between Bashneft and Sberbank of Russia in a number of areas, including provision of funding by Sberbank and optimization of Bashneft’s debt portfolio, as well as provision of investment banking services to the Company (via Sberbank CIB).

In addition, the Strategic Cooperation Agreement provides for a possibility of developing joint marketing initiatives, cooperation and exchange of expertise in internal business process management and personnel management.