20 October 2008

Shtokman Development AG Board of Directors Reviewed Progress of Shtokman Project Implementation Phase 1

Today Shtokman Development AG Board Meeting was held in Weggis (Switzerland) chaired by OAO Gazprom Management Board Chairman Alexei Miller with participation of Total CEO Christophe de Margerie and StatoilHydro President and CEO Helge Lund.

Board of Directors reviewed progress of Phase 1 of Shtokman Project implementation at FEED and TEO (Project) stage and discussed Work Program through the Investment Decision.

Board of Directors has approved Shtokman Development AG 2008-2009 budget, as well as terms and procedures of Total and StatoilHydro personnel secondment to Shtokman Development AG.

Other matters related to the company operating activities have also been reviewed.