Russia’s Rosneft signs 12 deals with foreign firms at forum

May 27, 2014

Russian oil major Rosneft signed 12 agreements with its foreign partners at the St. Petersburg International Economic Forum, Prime reported on May 26. Rosneft signed an oil and oil product supply deal with Venezuela’s PDVSA; a U.S. $1.3 billion oil product supply deal with Mongolia’s NIC, and an oil supply agreement with Petrovietnam.

It signed an agreement to establish a joint venture with Azerbaijan’s SOCAR, which will operate both in Russia and Azerbaijan.

Rosneft will also operate jointly with Union CubaPetroleo in the territory of Cuba; collaborate with India’s ONGC Videsh in development of the Russian shelf. Rosneft will also cooperate in development of Domanic deposits in the Orenburg Region.

Rosneft will cooperate with Norway’s SeaDrill and North Atlantic Drilling and will get a stake in North Atlantic Drilling, and it has also agreed with Italy’s Pirelli to buy a stake in it and to extend the partnership.

Copyright: Prime, 2014