Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  Rosneft' NK OAO    ROSN   RU000A0J2Q06

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Rosneft, Statoil Agree On JV To Develop Russia Arctic -Sources

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/05/2012 | 11:00am CEST

Russian state oil company OAO Rosneft (>> Rosneft' NK OAO) and Norway's Statoil ASA (STO, STL.OS) have agreed to form a joint venture to develop Russia's mostly untapped offshore energy resources in the Arctic and are expected to sign the deal later Saturday, two people familiar with the matter told Dow Jones Newswires.

The deal is expected to be structured similar to the ones Rosneft signed in April with Exxon Mobil Corp. (XOM) and Italy's Eni SpA (E, ENI.MI) and follows Russia's approval of long-awaited tax breaks for the potentially rich offshore fields.

Russia is willing to give a prominent role to foreign companies willing to develop the shelf, Russia's energy czar, deputy Prime Minister Igor Sechin, said April 16, following the deal with Exxon.

An industry source said the role of Sechin, who is expected not to join the new Russian government to be announced in the following days, was prominent at all the three deals.

Rosneft declined to comment. Statoil wasn't available for comment.

-By Alexander Kolyandr, Dow Jones Newswires; +7 495 232-9192 alexander.kolyandr@dowjones.com

Stocks mentioned in the article : Rosneft' NK OAO
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on ROSNEFT' NK OAO
05/26 ROSNEFT' NK : Rosneft and Pertamina Laid Basis for Long-Term Cooperation
05/26DJROSNEFT' NK : Indonesia's Pertamina Seeks Stake in Refinery Deal With Rosneft
05/26DJROSNEFT' NK : Indonesia's Pertamina Seeks Majority Stake in Refinery Deal With R..
05/19 ROSNEFT' NK : Igor Sechin showed Indonesian delegation around Tuapse Refinery
05/19 ROSNEFT' NK : Rosneft, Keppel and MH Wirth Establish Design and Engineering Cent..
05/19 ROSNEFT' NK : Rosneft, Keppel and MH Wirth Establish Design and Engineering Cent..
05/16 ROSNEFT' NK : Rosneft and PetroVietnam Expand Cooperation
05/16 ROSNEFT' NK : Q1 2016 Operating Results
05/16 ROSNEFT' NK : Q1 2016 Operating Results
05/10 ROSNEFT' NK : Development of cooperation between Rosneft and Japanese partners
Advertisement
Income Statement Evolution
More Financials