Corporate Governance

The creation of Gazprom Neft’s sustainable development strategy and the monitoring of its implementation are assured by the Company’s corporate governance system.

The principles that guide Gazprom Neft in managing sustainable development are documented in the Company's corporate guidelines, including the Code of Corporate Conduct and the Corporate Code. These principles are consistent with the ISO 26000 — Gazprom Neft’s evaluation of its business in accordance with ISO 26000, carried out in 2013, showed that the Company's understanding of the principles of sustainable development and social responsibility comply with this international standard in terms of terminology and general principles at the level of both corporate management documents and documents formalizing relationships with key stakeholders.Guidance on Social Responsibility international standard.

Gazprom Neft’s corporate governance system complies with the applicable Russian legislation, the Company's Articles of Association, and internal regulations. Gazprom Neft is also guided by best international practice in this area.

Gazprom Neft’s corporate governance system is founded on underlying principles that aim to preserve and develop the Company’s assets, increase market value, maintain financial stability and sustainable development, and respect the rights and interests of shareholders and other stakeholders.

The Company operates the Gazprom Neft Code of Corporate Conduct, which defines a set of principles, standards, and rules in accordance with which the Company governs and monitors itself. This system regulates relations between shareholders, the Board of Directors, the Company's executive bodies, and other participants in corporate relations. The Corporate Code of Conduct aims to ensure the effective protection of the rights and interests of shareholders, the transparency of management decision-making, and the professional and ethical responsibility of members of the management and supervisory bodies towards the Company, employees, and contractors.

Structure of Gazprom Neft’s management and supervisory bodies