OREANDA-NEWS. OJSC Rosneft (Rosneft or „the Company“) today, October 4, reported its consolidated financial results in accordance with US GAAP for the second quarter and first half of 2006, both periods ending June 30, 2006.

In the first six months of 2006 crude oil production of the consolidated subsidiaries increased by 8.2% to 38.111 million tonnes (1,540 kbpd) from 35.227 million tonnes (1,424 kbpd) in the same period of 2005.

In the second quarter of 2006 crude oil production of the consolidated subsidiaries increased by 9.8% to 19.504 million tonnes (1,568 kbpd) from 17.757 million tonnes (1,427 kbpd) in the second quarter of 2005.

In the first six months of 2006 crude oil production including equity share in affiliates increased by 8.1% to 38.429 million tonnes (1,553 kbpd) from 35.549 million tonnes (1.437 kbpd) in the first six months of 2005.

In the second quarter of 2006 crude oil production including equity share in affiliates increased by 9.1% to 19.565 million tonnes (1,573 kbpd) from 17.925 million tonnes (1,441 kbpd) in the second quarter of 2005.

Production growth in the first half of 2006 was mainly driven by increased production at Yuganskneftegaz (increase by 8.5% to 26.9 million tonnes (1,085 kbpd) from 24.8 million tonnes (1,001 kbpd)) and Severnaya Neft (increase by 24% to 2.8 million tonnes (111 kbpd) from 2.2 million tonnes (90 kbpd)).