Primex Oil Production was incorporated on July 1, 2007 in accordance with the Business Corporation Act, registration no. 679672-9. It merged with ZAO Chedty Neft, an oil producing company Inc having its principal assets in the Russian Federation. It is newly listed on the Frankfurt Exchange with trading symbol YPO.

The Closed Joint Stock Company (CJSC/ZAO) CHEDTY NEFT was founded as a private company in November 1997.

Following the merger, Primex is one of the independent oil-production enterprises of Russia. The Company’s structure allows it to perform, with the participation of partners, a full operating cycle consisting of hydrocarbons’ exploration, production and refining. CHEDTY NEFT holds licenses for geological survey of subsoil resources, exploration and production of oil and gas in the oil field located within the territory of the Usinsk district of Komi Republic.

Produced oil is transported to the Russian refineries, ОАО Slavneft – Yaroslavnefteorgsintez and ОАО Moskovsky NPZ, and then exported partly to Poland, Czech Republic, Germany and CIS countries.

Along with the defining new targets, Primex applies its best efforts to maintain positive results achieved during the period of its operations.

Primex intends to raise effectiveness by means of the introduction of advanced technologies and of up-to-date oil and gas equipment as well as investing in development of its own production facilities.

When doing business, CHEDTY NEFT tries to conform to worldwide accepted standards in the field of environment, health and safety.