Rosneft Kamchatneftegaz Project

September 18, 2008

Re: from basin analysis to reservoir forecast with Fugro Geoscience GmbH

Let me herewith express my gratitude and high appreciation to you personally and your colleagues from different Fugro offices who contributed to execution of several big-scale, complicated and specific projects related to the West Kamchatka offshore 2D/3D data interpretation and hydrocarbon prospectivity assessment.

During the last three years Kamchatneftegaz has acquired more than 13,000 linear km of the 2D seismic and gravimagnetic data and about 2200 sq. km of the 3D data covering the offshore area of over 60000 sq. km. I can with satisfaction say that the join efforts of your teams resulted in generation of a good geological and geophysical basis for further exploration.

Skillful and consistent integration of the research teams out of the Fugro Geoscience GmbH Moscow office, Fugro Robertson Houston and Wales offices lead up to synergy of their professional knowledge, extensive experience and combination of different geological and geophysical disciplines. During two years more than 20 geologists, geophysicists and petrophysicists have taken part in our project, some of those were the highly qualified world-class experts while the others were the young but promising specialists. All together they constitute a mature and productive team capable of meeting the most complicated challenges. I want to recognize not only the good professional qualification but also a good combination of the Jason and Robertson proprietary software with the industry-known products, which enriched the set of technical tools for the intepretation efforts. A special appreciation should be given to the careful and efficient management of this group leaving the good memories of the joint work only.

Results of the first exploration well on the Kamchatka offshore are the best recognition of your team efforts, which confirmed correctness of many of your geological forecasts, high precision of the structural mapping, reasonable caution and substantiation of the seismic facies determination; same is true for the prospects and risk analysis.

I do hope that in the nearest future we will be able [to] continue our business co-operation and put in practice all of the Fugro Jason technology advantages.

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