JSC NPEC Oil Refinery is a leader in the process of high-quality modernization and innovative changes in the Russian oil and gas industry. The Company is focusing its efforts on developing the intellectual and technological potential of the industry based on a powerful foundation of Russia’s petroleum academic school – one of the best in the world – and in partnership with leading international oil and gas companies.

JSC NPEC Oil Refinery’s innovative activities are implemented in accordance with the Innovative Development Program. In accordance with Instruction No. DM-P36-7563 of the Government of the Russian Federation dated November 7, 2015, in 2016, the Innovative Development Program for 2016-2020 with an Outlook until 2030 was updated and approved by the Company’s Board of Directors.

The program is aimed at achievement of the Company’s strategic goals and is based on its strategic priorities: efficiency, sustainable growth, transparency, social responsibility and innovations.

The program involves developing a set of measures aimed at:

• Development and introduction of new technologies;

• Development, production and launch of new innovative products and services meeting international standards;

• Assisting the Company’s modernization and technological development through significant improvement of key performance indicators of production processes;

• Increasing the Company’s capitalization and competitive advantages on the global market.

In 2016, the R&D costs of the Company amounted to RUB 20.2 bln. All measures scheduled for 2016 were implemented in full.