Rosneft President and Chairman of the Management Board Igor Sechin and President and CEO of Statoil Helge Lund today signed a Declaration on Protection of the Environment and Biodiversity for Oil and Gas Exploration and Development on the Russian Arctic Continental Shelf.

Acknowledging that the Arctic environment consists of ecosystems with unique features and resources, and as such, require special protective measures, Rosneft has taken the initiative for a Declaration on environmental protection in the Arctic to be signed with its partners.

Aiming to continuously improve their technology and operational procedures for exploration and development in the Arctic, Rosneft and Statoil reaffirmed their commitment to sustainable development, including minimizing the impact of oil and gas activities on indigenous populations and climate change.

The Parties will seek to coordinate activities in order to preserve the biodiversity of the Arctic, including observing the principles and recommendations of the Convention on Biological Diversity and the standards set by IPIECA, the global oil and gas industry association for environmental and social issues.

The Declaration also supports regular monitoring of changes to the natural landscape and seas of the Arctic, as well as international cooperation as part of the Arctic Environmental Protection Strategy (AEPS).

In order to ensure effective implementation of the Declaration, Rosneft and its partners will consider the establishment of a dedicated Coordination Centre with the participation of representatives of Roskosmos, the Ministry of Transport of the Russian Federation and the Ministry of the Russian Federation for Civil Defense, Emergencies and Elimination of Consequences of Natural Disasters (EMERCOM).

Rosneft plans to sign bilateral cooperation agreements with EMERCOM, the Russian Ministry of Transport and Roskosmos within the framework of the Declaration’s realization.

Rosneft President and Chairman of the Management Board Igor Sechin said: “Environmental protection issues are on top of our agenda, especially when planning the development of the Russian Arctic. We intend to sign this Declaration with all our partners before we launch any substantial activity in the Arctic to make sure everyone is governed by the same principles. I am grateful to Statoil and Helge Lund personally for the agreement to join this initiative”.

“We fully endorse Rosneft’s initiative. The purpose of the Declaration reflects Statoil's values and our commitment to safeguarding health, safety and the environment in our operations on a daily basis”, added President and CEO of Statoil Helge Lund.

23 November 2012

Rosneft Information Division
Tel.: +7 (495) 411 54 20
Fax: +7 (495) 411 54 21
www.rosneft.com

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 obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

Keywords: ROSNEFT - STATOIL