Social Responsibility

ChinOil takes care of the welfare and social security of its employees and their families.

The Company provides a package of the social benefits and guarantees to its employees. The commitments on their provision are envisaged in the Collective Agreement, which is annually concluded between ChinOil and the workforce and covers all the employees and non-working pensioners of the Company.

The Collective Agreement provides for:

• Incentives and guarantees to workers;
• Social protection for young workers;
• Support for veterans and pensioners.

The structure of the social benefits and guarantees is defined by Standard Collective Agreement of ChinOil, which is advisory for all the Group’s entities.

In 2015 amendments were introduced and the amounts of payment were increased under the following items:

• amount of pecuniary aid to workers retiring from employment;
• a lump sum payment for the annual leave;
• calculated rates of a one-time pecuniary aid to each parent-employee for each newborn or adopted child;
• calculated rates of a one-time pecuniary aid to employees and pensioners, who reached the jubilee age;
• pecuniary aid for funeral expenses to the worker’s (retired person’s) family;
• amount of pecuniary aid to employees who are on leave for care of children between the ages of one and a half to three years old.

Taking care of its employees ChinOil prodies:

• Industrial accident insurance;
• Implementation of the program of voluntary medical insurance under which workers can receive adequate medical care and undergo rehabilitation treatment in institutions of sanatorium type.