About the Report

GRI: 102-1, 102-5, 102-45, 102-46, 102-50

Report Scope

This Sustainable Development Report (hereinafter the Report) was prepared for the period from December 31, 2018, to December 31, 2019, using information available to Zarubezhneft Joint Stock Company (hereinafter Zarubezhneft JSC, Zarubezhneft Group of Companies, or Company) and its subsidiaries and affiliates at the time of its drafting. Operational data has been consolidated taking into account the recommendations of international Global Reporting Initiative (GRI) standards. Financial information is presented on the basis of audited accounting statements published on the Company’s website.

Report Subject

Partnership expertise – The Company’s portfolio contains unique and rare technologies that make Zarubezhneft JSC a leading company in the development of hard-to-recover oil reserves. Other companies operating in this area have their own expertise. Studies that can be adapted to fulfill production, logistics, environmental, and other strategic tasks are carried out by teams working in related industries with the extensive use of machine intelligence technologies. We are confident that the mutually beneficial partnership of several teams is the key to successfully achieving goals. Combining the expertise of several companies within one project will allow participants to gain additional experience and significantly increase performance.

Along with technological and managerial evolution, an additional driver for the Company’s development, requiring balanced management decisions, should be expansion into the markets of other countries and continents. Zarubezhneft’s interest are the regions of the Middle East, North Africa, and the Commonwealth of Independent States (CIS) countries, where preparatory work for successful operations has already been conducted, including establishment of a production center and development of the service sector.