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Rosneft, CNPC Ink JV to Develop Siberian Oil, Gas Assets

CNPC Rosneft Oil Company
AnnouncedOct 18, 2013
TypeJV
LocationRussia
Announced Date
October 18,2013
Transaction Type
JV




Snapshot
Asset/Basin:
{"East Siberia"}
Location
Region
Russia

Country
Russian Federation

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Rosneft President and Chairman of the Management Board Igor Sechin and Chairman of the China National Petroleum Corporation Zhou Jiping have signed a Memorandum to expand cooperation in upstream projects in East Siberia in the presence of first vice premier of the People’s Republic of China Zhang Gaoli.

The Memorandum describes a joint venture for upstream developments in East Siberia with Rosneft holding 51% and CNPC – the remaining 49%.

Development of Srednebotuobinsk field will serve as foundation for the future JV. On October 14, 2013 Rosneft consolidated 100% of Taas-Yuriakh…



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