Rosneft announces that, in connection with BP’s recent statements regarding its intention to pursue a potential sale of its participation in TNK-BP, Rosneft has informed BP of Rosneft’s interest in a potential acquisition of such participation. As a result, the parties agreed to commence negotiations on this matter and signed a non-disclosure agreement. Rosneft has been informed that the other TNK-BP shareholders have also indicated their interest in acquiring part or all of BP’s participation and that BP has an obligation under the shareholders’ agreement to negotiate in good faith with the other shareholders. Rosneft believes that an acquisition of BP’s interest in TNK-BP would be in the best interest of both Rosneft’s and BP’s shareholders and would lead to further development of TNK-BP.

There can be no assurance that Rosneft and BP will enter into any transaction involving TNK-BP.

A further announcement will be made when and if appropriate.

Rosneft Information Division
Tel.: +7 (495) 411 54 20
Fax: +7 (495) 411 54 21
July 24, 2012

Pelham Bell Pottinger
James Henderson / Nick Lambert /
Rollo Crichton-Stuart / Elena Dobson
+44 20 7861 3232

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