Rosneft is ready to make a significant contribution into implementation of main initiatives of the May Decree of Russian President Vladimir Putin in the social development sphere, Chief Executive Officer of the oil producer Igor Sechin told TASS in an interview on Tuesday.

"Initiatives of the Russian President fully correspond to the practice already existing in the company," the top manager said. "The company is ready to make a significant contribution into delivery of objectives and implementation of main initiatives determined by the Russian President, including in the social development sphere," Sechin said.

The company will perform a one-off upward adjustment of corporate pensions to ex-employees of the company, he said. "Former employees of Rosneft receive material support. Further to annual upward adjustment of corporate pensions [the program is effective since 2000 - TASS], the company plans to perform a one-off adjustment of pensions assigned before 2010," Sechin noted.

Over 320,000 individuals are working in the company, the chief executive said. "All of them, including employees of pre-retirement and retirement age, are reliably protected by current corporate programs," he added.