OAO ANK BASHNEFT REFINERY

Bashneft' ANK OAO proven reserves at the beginning of ***7 were *5, **5 mln barrels of crude oil and *7, **1 bcf of natural gas, totaling *0, **9 mln boe. Bashneft' ANK OAO has an outstanding portfolio of production assets. The main production region for Bashneft' ANK OAO Group is Western Siberia. Bashneft' ANK OAO is carrying out international exploration and production projects in Kazakhstan, Egypt, Azerbaijan, Uzbekistan, Saudi Arabia, Colombia, Venezuela, Cote dIvoire, Ghana and Iraq. With putting into operation the Nakhodkinskoye gas field in ***5 the Company started its gas program which targets at a rapid growth of gas production. The key regions for development of Bashneft' ANK OAO gas production are the Bolshekhetskaya Depression, the Northern Caspian and Tsentralno-Astrakhanskoye field in Russia as well as the Kandym Khauzak Shady project in Uzbekistan (put into production in ***7) and the Shakh Deniz project in Azerbaijan. Bashneft' ANK OAO owns significant oil refining capacity both in Russia and abroad. In Russia the company owns four large refineries at Perm, Volgograd, Ukhta and Nizhny Novgorod. Total capacity of Bashneft' ANK OAOL facilities in Russia is *4.5 mln tons of oil per year.Bashneft' ANK OAO also has refineries in Ukraine, Bulgaria, and Romania, with total capacity of *4.0 mln tons per year. In ***7 Bashneft' ANK OAO refined *2.*6 mln tons of oil at its own refineries, including *2.*5 mln tons at its Russian refineries. At the beginning of ***8 the Company's marketing network encompassed *4 countries, including Russia, the near-abroad and European countries (Azerbaijan, Belarus, Georgia, Moldova, Ukraine, Bulgaria, Hungary, Finland, Estonia, Latvia, Lithuania, Poland, Serbia, Montenegro, Romania, Macedonia, Cyprus, Turkey, Belgium, Luxemburg, Czech Republic, and Slovakia) as well as the USA and includes **7 tank farm f