OREANDA-NEWS. February 8, 2012. At the meeting on January 30, the Board of Directors of JSOC Bashneft discussed the current state of occupational safety at the Company’s entities and measures for controlling it, and approved an action plan aimed at reducing injury rate.

Following a number of accidents, including those related to the work of external contractors at JSOC Bashneft’s facilities in 2012, the Board of Directors requested the managers to provide better control over compliance with the Company’s Occupational Safety Standards and to use stricter selection criteria for contractors, taking into account their ability to ensure work safety.

The Board of Directors also approved the standard on JSOC Bashneft’s Credit Policy. This document is in line with the Company’s strategy of improving corporate governance and is aimed at increasing the transparency of decisions on debt and monetary resources management issues.

The Board of Directors approved the candidates to be nominated to the governing and controlling bodies of a range of JSOC Bashneft’s subsidiaries and affiliates, discussed the Company’s projects and approved the transactions, including those in which the Company is interested. In particular, the Board approved the loan agreements between JSOC Bashneft and OOO Bashneft-Polyus which is developing the Titov and Trebs oilfields in the Nenets Autonomous District.