OREANDA-NEWS. At a regular meeting on October 10 in Moscow, Rosneft’s Board of Directors confirmed the results of its operations and business activities for the first 9 months of 2006.

With respect to the same period in 2005, in the first 9 months of 2006, the Company increased oil production by 8.4% and gas production by 7.2%.

These increases were significantly ahead of average industry growth. In total, Rosneft produced 59.4 million tons of oil and gas condensate (0.4% above the planned level) and 10.1 billion cubic meters of gas (0.4% above the planned level).

In the first 9 months of 2006, the Company sold 40.2 million tons of crude oil and gas condensate, which is 21.9% higher than during the same period in 2005. This increase is primarily due to increased oil and gas condensate deliveries to the Caspian Pipeline Consortium (a 2.3-fold increase), the De-Kastri port (a 1.67-fold increase, which includes oil from Sakhalin-1), and to China (a 2.1-fold increase).