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Rosneft and Eni to develop Russian offshore together
29.04.2012 17:53
Rosneft and Eni to develop Russian offshore together

Russian largest oil company Rosneft and Italian oil and gas company Eni has signed a strategic cooperation deal to jointly develop Russian offshore energy deposits in the Barents Sea and the Black Sea, reports Eni in its press release.

Under the agreement, Eni and Rosneft will set up joint ventures, with Eni holding 33.33% in each, for the joint development of Fedynsky and Tsentralno-Barentsevsky licenses in the Russian offshore of the Barents Sea, and Zapadno-Cernomorsky license in the Russian offshore of the Black sea. In accordance with the Russian regulation currently in place, Rosneft will remain owner of the licenses.

The deposits are estimated to hold total recoverable resources of 36 billion barrels of oil equivalent.

Italian investments into geological research in the Barents Sea and the Black Sea may reach about $ 2 billion, says Rosneft President Eduard Khudainatov. The agreement also presupposes Risneft participation in Eni international projects and exchange of technologies.







Author: Irina Fomina

Tags: Russian oil and gaz producers     

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