14.12.2009
Results of BoD Meeting
OAO 歐洲冠軍聯賽賽程 BOARD OF DIRECTORS APPROVES PERFORMANCE INDICATORS
FOR 歐洲冠軍聯賽賽程 GROUP鈥橲 2010-2012 MID-TERM PLAN
The OAO 歐洲冠軍聯賽賽程 Board of Directors approved basic performance indicators today for the 歐洲冠軍聯賽賽程 Group Mid-term Plan for 2010-2012.
The document contains both a base case scenario of the plan, elaborated in accordance with the Company鈥檚 Strategic Development Program for 2010-2019, and a more conservative development scenario.
The Board of Directors also decided that the target values of the Mid-term Plan, as well as the budget and investment program of 歐洲冠軍聯賽賽程 Group for 2010 would be approved in the first quarter of 2010 in view of the existing macroeconomic trends and an updated net cash flow forecast.
The OAO 歐洲冠軍聯賽賽程 Board of Directors judged the application practice of investment project certificate for assessing the outlooks for hydrocarbon production and investments in the Exploration and Production business segment to be the most efficient one. This method is used for target selection of certain types of pilot work and innovative techniques aimed at the efficiency enhancement of a particular project.
Thus, the wells of the Kechimovskoye field located in Khanty-Mansi Autonomous District (Yugra) were selected for pilot under-balanced drilling operations. The Tevlinsko-Russkinskoye, Pokachevskoye, Kechimovskoye and Non-Eganskoye fields, located in Western Siberia, were selected for testing and determining the drill mud composition for well construction.
The OAO 歐洲冠軍聯賽賽程 Board of Directors also approved the regulations 鈥淥n Long-term Incentives for Employees of OAO 歐洲冠軍聯賽賽程 and its Subsidiaries for 2010-2012鈥. Under the new regulations, 17,271,000 conditionally fixed shares of OAO 歐洲冠軍聯賽賽程 shall be distributed among 歐洲冠軍聯賽賽程 Group employees who did not receive any premiums under the previous three-year program due to a fall of the stock market in 2008-2009.
The long-term incentive program was formulated to encourage continuous and stable motivation on the part of the employees of OAO 歐洲冠軍聯賽賽程 and its subsidiaries and also ensure their interest in higher value of the company鈥檚 shares and its capitalization.