Gazprom neft' OAO (Gazprom Neft JSC), formerly Siberian Oil Company OAO or Sibneft' OAO, is a Russia-based vertically integrated oil company. Its core activities include the oil and gas exploration, production and development of oil and gas fields, as well as the production and sale of refined petroleum products, distribution and marketing operations through its retail outlets. The export trade is conducted through a wholly owned subsidiary Gazprom Neft Trading GmbH, which is a trader for its export sales. The oil is exported through a pipeline system AK Transneft’. It operates through one representative office located in Salekhard, two branches located in Moscow and Noyabr’sk, as well as numerous subsidiaries and affiliated companies throughout Russia. In June 2009, it acquired a 23.5% stake in Sibir Energy plc. In September 2009, JSC Gazprom Neft brought the remaining 25% stake in subsidiary, Gazprom Neft Sakhalin. In December 2009, it sold 100% interest in Sibneft’-Chukotka OOO.