E&P Program and Financial Strategy

Yurkharovskoye Field Development Plan - 2009 E&P Capex Breakdown, RR MM¹ 2009F-Minimum 8,981 3,336 2,627 2,549 360 109 2009F-Maximum 16,535 2,549 360 109 6,965 6,552 NOVATEK Capacity Increase, bcm (annualized) Field capacity max 2009 capex 25 7.2 20 15 Field capacity min 2009 capex 10 5 0 IQ IIQ IIIQ IVQ 2009 2009 E&P Capex - min/max cases Minimum 37% 29% 1% 29% 4% Infrastructure ■Drilling ■ Pipelines ■ Exploration ■Compressor Stations Infrastructure Pipelines Notes: (1) Net of VAT, nominal amounts Compressor Stations Maximum 42% 40% 1% 15% 2% Drilling Exploration 17

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