Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

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
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
Latest news on NK ROSNEFT' PAO
05/23 Rosneft cuts oil output with an eye to ramping up again
05/19 NK ROSNEFT' : Igor Sechin took part in the opening of Rosneft’s office dur..
05/18 IGOR SECHIN : Rosneft working to be ready for competition post-oil output cuts -..
05/17 IGOR SECHIN : Russia's Sechin says wants smooth future exit from global oil deal
05/17 NK ROSNEFT' : Rosneft and Tecnoclima S.p.A. Agree on the Supply of Climatic Equi..
05/17 NK ROSNEFT' : Rosneft and Eni To Extend Cooperation in Russia and Abroad
05/17 NK ROSNEFT' : Rosneft and Pietro Fiorentini Agree on Industrial Cooperation
05/17 NK ROSNEFT' : Rosneft Expands Cooperation in the Field of Education and Science
05/14DJBattle Heats Up for Control of Refiner Citgo as Venezuela's Default Risk Rise..
05/13 NK ROSNEFT' : Igor Sechin Took Part in the Ceremony of Load out Barge Keel Layin..
More news
Sector news : Integrated Oil & Gas
05/24 Most Norwegian oil workers agree wage deal, mediation for rest
05/23 Rosneft cuts oil output with an eye to ramping up again
05/23 Norway oil ministry says has no plan to cut oil output
05/23DJPETROLEO BRASILEIRO PETROBRAS : Petrobras Issues $4 Billion in Debt on Internati..
05/23 PETROLEO BRASILEIRO PETROBRAS : Petrobras says plans to sell Jurua gas field in ..
More sector news : Integrated Oil & Gas
News from SeekingAlpha
05/17 Rosneft, Eni sign cooperation agreement
05/11 Rosneft Oil's (RNFTF) Management on Q1 2017 Results - Earnings Call Transcrip..
05/10 Rosneft Oil Company OJSC 2017 Q1 - Results - Earnings Call Slides
05/06 What Happened With Mobile TeleSystems?
05/05 Rosneft Oil reports Q1 results
Financials ($)
Sales 2017 97 492 M
EBIT 2017 12 909 M
Net income 2017 6 117 M
Debt 2017 38 895 M
Yield 2017 2,55%
P/E ratio 2017 9,63
P/E ratio 2018 6,81
EV / Sales 2017 0,99x
EV / Sales 2018 0,91x
Capitalization 57 624 M
More Financials
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 6,59 $
Spread / Average Target 21%
Consensus details
EPS Revisions
More Estimates Revisions
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$)
ROYAL DUTCH SHELL A-5.33%227 893
TOTAL-1.18%134 599
ENI SPA-3.10%61 377
STATOIL ASA-3.47%59 922
More Results