Slavneft: Appoint Mikhail Osipov as President

At the meeting on June 29, 2015, the Slavneft Board of Directors passed the resolution to terminate the powers of Yuri Sukhanov, the Company’s President. Mikhail Osipov, who had held the position of the Company’s Vice President for Upstream before, was appointed to be the new President of Slavneft for the three-year period from July 01, 2015.

At the meeting of the Board of Directors it was stated that Slavneft was facing new challenges and it was necessary to make alterations to the Company management structure for resolving them. Therefore, JSC Gazprom Neft and OJSC Rosneft Oil Company, Slavneft’s Shareholders, adopted the resolution to change the Company’s President.