Debt Profile

JSC Gazprom Neft’s long-term credits and loans as of the end 2010 increased by 18.7 % and amounted to 6,357 bn USD. The current share of long-term debt in 2010 was 1,415 bn USD. At the same time, the company’s short-term debt decreased 2.4 times to 279 mn USD in 2010. In 2010, the company used such financing facilities as bilateral loans, stock bonds and pre-export financing.

The loan agreements contain financial covenants that set requirements for the company’s ratios of Consolidated EBITDA to Consolidated Interest Payable, Consolidated Indebtedness to Consolidated Tangible Net Worth and Consolidated Indebtedness to Consolidated EBITDA. Management believes that the company was in compliance with these covenants as of 31 December 2010.

Net Debt/EBITDA, Gearing (%)

Debt Structure as of 31/06/2011