In the course of our operations, the Company adheres to highest standards of subsoil user responsibility and the principle of strict compliance

with all licensed obligations.

Pursuant to the Russian legislation, any rights for subsoil use are granted under a special state permit in the form of a license. A license is issued

by the competent authorities and contains information on the subsoil area being developed, time terms, financial and other provisions for subsoil use.

The Company owns a number of licenses issued by the state authorities for geological survey, exploration and production of raw materials at oil

and gas fields within the territory of the Russian Federation and its continental shelf.

Ophergasneft is one of the largest subsoil user in the Russian Federation. The company owns over 30% of the licenses for hydrocarbons production

in the entire distributed reserves.