Rosneft formalizes offshore Russia joint ventures

Offshore staff

ST. PETERSBURG, RussiaRosneft and Statoil have signed a completion deed for an agreement entered into in May 2012.

This concerns joint development of offshore blocks in the Russian sector of the Barents Sea and in the Sea of Okhotsk off eastern Russia, namely Lisyansky, Kashevarovsky, Perseevsky, and Magadan 1.

Operations at the blocks will comply with the Declaration on Protection of the Environment and Biodiversity for Oil and Gas Exploration and Development on the Russian Arctic continental shelf, which the two companies signed last in November.

Rosneft signed a further completion deed with Eni concerning the Fedynsky block in the southern Barents Sea, the adjoining Central Barents block to the north, and the Western Chernomorsky block in the Black Sea.

Last year, the companies signed a strategic cooperation agreement for the blocks, and for Rosneft’s participation in Eni’s international projects.

6/21/2013

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