Rosneft Brasil (100% owned Rosneft subsidiary) started the drilling of the first exploration well in the Solimoes Basin. Rosneft is commencing the next phase of the exploration program in the Amazon region as operator following its purchase of PetroRio’s interest in 2015.

The Company expects to perform the drilling and well testing and evaluation in Q2 2017.

Rosneft Brasil is planning to drill at least 4 wells within the upcoming exploration drilling campaign with the scope of obtaining valuable geological information to determine the hydrocarbon resource potential of the Solimões Basin.

The Solimões project establishes Rosneft as an operator in Brazil, a country with major upstream growth opportunities both onshore and offshore. Rosneft continues to evaluate oil and gas monetization options for the Solimões Project.