Rosneft ROSN Rosneft Agrees Heads of Terms with AAR

  Rosneft (ROSN) - Rosneft Agrees Heads of Terms with AAR

RNS Number : 2194P
OJSC OC Rosneft
22 October 2012

            Rosneft Agrees Heads of Terms with the AAR Consortium

Rosneft confirms  that BP,  in connection  with the  sale of  its interest  in 
TNK-BP to Rosneft, has waived its right to negotiate in good faith to purchase
the AAR consortium's stake in TNK-BP.

This is a step forward in the implementation of the heads of terms,  announced 
earlier today,  between Rosneft  and the  AAR consortium,  which provides  for 
Rosneft to acquire AAR's 50% interest in TNK-BP for cash consideration of  $28 
billion.  The  transaction  remains   subject  to  agreeing  the   definitive 
transaction documentation, which the parties  have started preparing, as  well 
as  the  required  corporate  and  regulatory  approvals  and  certain   other 

                                                              October 22, 2012


                                                  Rosneft Information Division

                                                      Tel.: +7 (495) 411 54 20

                                                       Fax: +7 (495) 411 54 21



                                                         Pelham Bell Pottinger

                                              James Henderson / Nick Lambert /

                                          Rollo Crichton-Stuart / Elena Dobson

                                                              +44 20 7861 3232


These materials contain statements about  future events and expectations  that 
are forward-looking in nature. Any statement in these materials that is not  a 
statement of  historical fact  is a  forward-looking statement  that  involves 
known and  unknown risks,  uncertainties  and other  factors which  may  cause 
actual results,  performance  or achievements  expressed  or implied  by  such 
forward-looking statements to differ. We  assume no obligations to update  the 
forward-looking statements contained herein to reflect actual results, changes
in assumptions or changes in factors affecting these statements.

                     This information is provided by RNS
           The company news service from the London Stock Exchange


AGRLLLFLLBFLFBL -0- Oct/22/2012 12:28 GMT
Press spacebar to pause and continue. Press esc to stop.