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Italian Eni to Make Oil Business in Russia
27.09.2011 11:41
Italian Eni to Make Oil Business in Russia

Italian Eni, one of the major Gazprom partners in Europe, intends to start oil business in Russia. The company is negotiating with Rosneft about joining oil extraction project in Vale Shatskogo in the Black Sea. The American company Chevron refused from its participants in the project in the beginning of the year.

Eni may get 33% in its joint enterprise with Rosneft. It will also have to finance geological survey at the initial stage, which is estimated in $ 1 bln.

Eni and Gazprom have long-standing partnership relations. They are building together the gas pipeline South Stream, which will connect Russia and Italy.

Author: Irina Fomina

Tags: Resources Russia Russian business Gazprom  

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