Rosneft Discovers New Russian Oil Field

Rosneft obtained a certificate of proof of discovery for a field named after Moskovtsev, located at the Chupalsky License Area in the Nefteyugansk Region of Khanty-Mansi Autonomous District in Russia.

As of today, 4 wildcat wells have been drilled at the field. Total oil reserves in place at the new field are estimated at 33 million tons, 11,7 million tons recoverable. Field surface development and production are scheduled for 2012.

The field was named after Oleg Alexeyevich Moskovstev (1935-1994). The Honorable Geologist of the RSFSR, winner of the Lenin Award and decorated with the Labor Red Banner Order, O. Moskovstsev worked for Yuganskneft Oil and Gas Production Division - Yuganskneftegas Production Association from 1966 to 1994 and participated in development and commissioning of Mamontovskoye, Pravdinskoye, South Surgutskoye and other major oil fields.