ENERGY FOR PEOPLE - JSC Gazprom Neft

JSC GAZPROM NEFTANNUAL REPORT2009Dear ShareholdersThe oil business of Gazprom Group has successfully overcome the 2009 crisis. Despite the complicated externalfinancial and economic environment, in terms of operating efficiency JSC Gazprom Neft has secured the positionas one of the leaders of the Russian oil sector. The Company showed high results of operating revenue per barrelproduced and a high level of return on capital invested. This has resulted in the stockholders of Gazprom Neft receivingone of the highest returns in the sector.In 2009 the Company increased the volume of both oil production and refining, effectively managing its key enterprises.The geographic expansion of oil production due to new projects in the Near East, Africa, and Latin America, integrationof Serbia’s NIS, purchase of lubricants facility in Italy, consolidation of the controlling interest in Sibir Energy, launchof large-scale rebranding program of the chain of filling stations – these events of 2009 determined the developmentdirection of Gazprom Neft and therefore of the total business of the global energy company “Gazprom”.Alexey MillerChairman of the Management Board, JSC Gazprom,Chairman of the Board of Directors, JSC Gazprom Neft3