Independent Auditor’s Report on 2013

Independent Auditor's Report

To the Shareholders and Board of directors of JSC “Gazprom Neft”

We have audited the accompanying consolidated financial statements of JSC “Garprom Neft” and its subsidiaries (the “Group”), which comprise the consolidated statement of financial position as at 31 December 2013, and the consolidated statements of comprehensive income, changes in shareholders’ equity and cash flows for 2013, and notes comprising a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Consolidated Financial Statements

Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on the fair presentation of these consolidated financial statements based on our audit. We conducted our audit in accordance with Russian Federal Auditing Standards and International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to express an opinion on the fair presentation of these consolidated financial statements.

Opinion

In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Group as at 31 December 2013 and its financial performance and its cash flows for 2013 in accordance with International Financial Reporting Standards.

24 February 2014

Moscow, Russian Federation

T.S. Medvedeva, Director (licence no. 01-000496),

ZAO PricewaterhouseCoopers Audit

Audited entity: JSC Gazprom Neft
State registration certificate № 1025501701686 issued by
Interdistrict inspectorate of Federal tax authority #15
of Saint-Petersburg on 11.12.2007
Certificate of inclusion in the Unified State Register of Legal Entities № 55 № 002790652 issued on 01.06.2006
5-A Galernaya st., St. Petersburg, Russian Federation
Independent auditor: ZAO PricewaterhouseCoopers Audit
State registration certificate № 008.890 issued by
the Moscow Registration Bureau on 28 February 1992
Certificate of inclusion in the Unified State Register of Legal Entities № 1027700148431 issued on 22 August 2002
Certificate of membership in self regulated organisation non-profit partnership “Audit Chamber of Russia” № 870 ORNZ 10201003683
in the register of auditors and audit organizations