Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Rosneft, Statoil Sign Deal On Developing Fields In Arctic

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/05/2012 | 04:26pm CEST

Norway's Statoil ASA (STO, STL.OS) signed Saturday a cooperation agreement with Russian state oil company Rosneft (>> Rosneft' NK OAO) to develop Russia's mostly untapped offshore energy resources in the Arctic, thus joining two other global majors, Exxon Mobil Corp. (XOM) and Italy's Eni SpA (E, ENI.MI), which signed similar deals in April.

The deal is structured similarly to the ones Rosneft signed with Exxon and Eni and follows Russia's approval of long-awaited tax breaks for the potentially rich offshore fields. Like the previous two, this deal was signed in the presence of Russia's president-elect, Vladimir Putin.

Rosneft and Statoil have agreed to jointly explore offshore frontier areas of Russia and Norway and to conduct joint technical studies on two onshore Russian assets. The agreement also envisages Rosneft's acquisition of participating interests in selected Statoil projects.

Under the agreement, the companies will set up joint ventures, with Statoil holding 33.33% in each, and will jointly explore the Perseevsky license in the Russian part of the Central Barents Sea and three licenses--the Kashevarovsky, Lisyansky and Magadan-1--north of Sakhalin island in the Sea of Okhotsk. The four offshore licenses cover an area of more than 100,000 square kilometers.

"We aim for early access at scale in new and promising basins, positioning us for high-impact exploration. This agreement is at the core of our strategy, supporting our long-term growth ambitions," said Helge Lund, chief executive of Statoil, in a statement.

-By Alexander Kolyandr, Dow Jones Newswires; +7 495 232-9192 [email protected]

Stocks mentioned in the article : Rosneft' NK OAO
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NK ROSNEFT' PAO
06/27 NK ROSNEFT' : Russia's Rosneft targets bigger gas output, lower costs
06/26 MIKHAIL FRIDMAN : Fridman's L1 Retail to buy Holland & Barrett for $2.3 billion
06/22 NK ROSNEFT' : Rosneft Holds Annual General Meeting of Shareholders
06/21 NK ROSNEFT' : Vladimir Putin received Igor Sechin in Kremlin
06/18 NK ROSNEFT' : Rosneft discovers hydrocarbon deposits on Eastern Arctic shelf
06/18 Russia's Rosneft finds first oilfield offshore eastern Arctic
06/17 Iran sees gas deal with Total within weeks - minister
06/17 IRAN SEES GAS DEAL WITH TOTAL WITHIN : minister
06/02 NK ROSNEFT' : Igor Sechin makes a keynote speech at the Summit of Energy Compani..
06/02 NK ROSNEFT' : With the support of Rosneft, Zvezda Shipbuilding Complex and GTT A..
More news
Sector news : Integrated Oil & Gas
06/27 China pumps cash into African floating LNG projects in strategic push
06/27DJSantos Inks Strategic Relationship with ENN, Hony
06/26DJTOTAL : Reports Steam Issue, Flaring at Port Arthur, Texas, Refinery
06/26 Thirteen EU nations back plan for talks with Russia over gas pipeline
06/26DJEUROPE MARKETS : European Stocks Finish Higher, Helped By Italian Banks, Nestlé
More sector news : Integrated Oil & Gas
News from SeekingAlpha
06/27 Rosneft says hit by "powerful" cyber attack
06/22 Rosneft to pay half of net profit in dividends from 2017, Sechin says
06/21 Saudi Shakeup Sees Bin Salman Take Over
06/20 Putin asks Rosneft to consider paying half of net profits in dividend
06/19 Rosneft finds first oilfield offshore eastern Arctic
Advertisement
Financials ($)
Sales 2017 97 080 M
EBIT 2017 12 732 M
Net income 2017 5 854 M
Debt 2017 35 037 M
Yield 2017 2,66%
P/E ratio 2017 9,97
P/E ratio 2018 7,93
EV / Sales 2017 0,96x
EV / Sales 2018 0,91x
Capitalization 58 509 M
More Financials
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 6,35 $
Spread / Average Target 16%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Igor Ivanovich Sechin Chairman-Management Board & Vice Chairman
Andrey Removich Belousov Chairman
Petr Ivanovich Lazarev Finance Director
Valeriy Vladimirovich Nikitin Director-Information Technology
Artur Matthias Warnig Deputy Chairman
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
NK ROSNEFT' PAO57 420
ROYAL DUTCH SHELL-9.51%217 102
PETROCHINA COMPANY LIM..-2.64%196 496
TOTAL-9.47%122 992
ENI-12.22%55 191
STATOIL-11.68%54 171
More Results