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Igor Sechin and Bob Dudley Discuss Rosneft and TNK-BP Integration

20 December 2012

On December 19 Igor Sechin, Rosneft President and Chairman of the Management Board held a working meeting with BP CEO Bob Dudley to discuss the integration of Rosneft and TNK-BP.

Bob Dudley will become a member of the steering committee co-ordinating the integration that will be chaired by Igor Sechin.

The parties confirmed their commitment to efficient integration of the companies and agreed that the process is a unique opportunity to bring many of the world’s best business and technical practices into the combined company in a short timeframe.

Commenting on the meeting Igor Sechin said: “I am glad to see the progress in our co-operation and am confident that the experience of Bob Dudley and of the BP team will raise the efficiency of the integration process and will ensure the combined company becomes one of the most competitive international majors.”

Bob Dudley said: “BP is committed to Rosneft’s success throughout the integration process and beyond and we see significant potential for profitable partnership between our companies. I would also like to congratulate Rosneft on signing the sale and purchase agreement with AAR. By owning 100 per cent of TNK-BP Rosneft will unlock significant value. I believe that this is a good outcome for AAR, Rosneft and Russia.”

Rosneft Information Division
Tel.: +7 (495) 411 54 20
Fax: +7 (495) 411 54 21
December 20, 2012

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.