Assignment contract in favor of JSC “Zarubezhneft” of 20% in Oil Exploration and Production Agreement of Kharyaginskoye oil field was signed on a production sharing basis

Pursuant to the Executive Order of the Government of Russian Federation dated 23 of July, 2009 ¹ 1031-p, on 27 of November, 2009 Assignment contract was signed by companies Total E&P Russie and Norsk Hydro Sverige A.B. in favor of JSC “Zarubezhneft” of 20% of all rights and obligations of investor in Oil Exploration and Production Agreement of Kharyaginskoye oil field on a production sharing basis (hereafter – Agreement).

The signing took part in Paris during the visit to France of the Chairman of the Government of the Russian Federation Vladimir Putin under the work of the 14^th session of the Russian-French Committee on bilateral cooperation at the level of heads of Governments.

Till 30 of December, 2009 the Supplement to Agreement with participation of the Ministry of energy of the Russian Federation, Administration of the Nenets Autonomous Area, investors and JSC “Zarubezhneft” should be signed which will officially initiate the entrance of JSC “Zarubezhneft” into the project with a 20% share of participation.