ROGTEC Magazine - Russian Oil & Gas Technologies - News, Reviews & Articles

ROGTEC Magazine - Russian Oil & Gas Technologies - News, Reviews & Articles

Rosneft and Chevron Agree Joint Black Sea Exploration Activities

Thursday, June 17th, 2010

On June 17 Rosneft Oil Company and Chevron Corporation announced in Novo-Ogarevo execution of mutual agreements outlining key principles of future joint exploration activity planned for Rosneft’s Shatsky Ridge off-shore license in the Black Sea.

The agreements were signed by Rosneft President Sergey Bogdanchikov and Chevron CEO John Watson. The signing ceremony was attended by Prime-Minister Putin and Rosneft Chairman and First Deputy Prime Minister Igor Sechin.

Pursuant to the agreements, Rosneft and Chevron intend to establish an operating company in Russia. Chevron will finance initial exploration activities, including seismic surveys and exploration drilling.



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Polarcus / DMNG partnership receives Letter of Intent from Rosneft

Thursday, June 17th, 2010

Polarcus Limited (OAX: PLCS) announced today that JSC Dalmorneftegeophysica (DMNG), tendering under the terms of a joint cooperation agreement with Polarcus, has received a Letter of Intent from Rosneft for a 1,030 square kilometer 3D seismic acquisition project in the Russian sector of the Black Sea.

The project will be acquired by POLARCUS ASIMA, the third and largest vessel to date in the Polarcus fleet and the first of the ULSTEIN SX134 design. The project will commence in August after vessel shakedown and transit to the Black Sea, and is expected to run for approximately 40 days.



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