The main features of the Company’s innovation development are included in the Rosneft Program for Innovation Development for 2016-2020 with a prospect up to 2030. This Program has been approved and endorsed by the Interdepartmental Committee for Technological Development with the Presidium of the Council under the President of the Russian Federation for Economic Modernization and Innovation Development of Russia.

The program has been developed taking into account the Russian President’s Order No. Pr-3013 dated December 2, 2014, policies and program documents of the federal and regional levels and local regulatory, planning and reporting documents of the corporate level.

The program covers two planning perspectives:

• Medium-term: 2016-2020;
• Long-term: 2020-2030.

Key indicators of the Innovation Development Program are included in the Company's Business Plan as technical and economic indicators, as well as in the performance indicators of the Company's top management.

The Innovation Development Program is focused on the achievement of the Company's strategic goals and proceeds from its strategic priorities, such as efficiency, sustainable growth, transparency, social responsibility and innovation. The goals are achieved through a complex of activities aimed at:

• development and introduction of new technologies;
• development, production and market launch of new innovation products and services compliant with the global standards;
• facilitating the modernization and technological development of the Company by significantly improving the basic performance indicators of production processes;
• increasing the Company's capitalization and competitiveness in the world market.

The objectives of the Innovation Development Program include:

1. Ensuring the development of Rosneft as a high-tech energy company.
2. Ensuring technological leadership in key competencies: oil and gas production and refining.
3. Maintaining specific capital and operating costs at the level as the best global industry indicators.
4. Increasing the energy efficiency of production to achieve a better level globally.
5. Compliance with top international standards of environmental and operational safety.