Rosneft Agrees Heads of Terms with the AAR Consortium
Rosneft confirms that BP, in connection with the sale of its interest in TNK-BP to Rosneft, has waived its right to negotiate in good faith to purchase the AAR consortium’s stake in TNK-BP. This is a step forward in the implementation of the heads of terms, announced earlier today, between …
Rosneft agrees to acquire a 50% stake in TNK-BP from BP
Rosneft today announces that it has entered into an agreement in principle with BP to acquire its 50% interest in TNK-BP in exchange for $17.1 billion in cash and 12.84% Rosneft shares currently held in treasury. In connection with the proposed transaction, BP has offered to purchase from Rosneft’s parent, …
Rosneft In Bid for BP’s Stake in TNK-BP
Rosneft is poised to secure a tighter grip on Russia‘s oil industry with a bid for BP’s 50 percent stake in TNK-BP, the country’s third largest producing company. Sources familiar with the actions of British oil company BP, Rosneft, their advisers and financiers said a bid had been submitted to …
Zeljko Runje Appointed Vice President for Offshore Projects at Rosneft
Zeljko Runje has been appointed to the newly created position of Vice President for Offshore Projects at Rosneft. He has extensive experience in this field. Developing offshore projects is one of Rosneft’s strategic priorities. In the medium term it will contribute significantly to resource base replacement, while in the long …
AAR in Non-binding Agreement to Sell TNK-BP Stake to Rosneft for $28bn USD
The Russian-based businessmen whose joint venture with BP has been plagued by years of in-fighting have agreed an outline deal to sell their stake to the state-owned oil giant Rosneft for about $28bn (£17.3bn), reported Mark Kleinman, City Editor, Sky News. AAR, a consortium of four oligarchs (Len Blavatnik, Mikhail …
Rosneft President Igor Sechin meets Eni CEO Paolo Scaroni
Rosneft President Igor Sechin and Eni CEO Paolo Scaroni have met in Rome to discuss the progress of joint projects between the two companies offshore Russia in the Black Sea and Barents Sea in the framework of the strategic cooperation agreement signed on 25 April 2012. The executives in charge …
TNK-BP: Bidding to Open this Week – Rosneft likely Suitors
Bidding will open this week for BP’s half of Russian oil company TNK-BP, with Rosneft seen as the likely winner of the British oil major’s stake in the fraught but lucrative joint venture reported Melissa Akin. BP has booked $19 billion (11.8 billion pounds) in dividends from its original investment …
Rosneft and Gazprom Join Forces to Explore and Develop Offshore Fields
Rosneft and Gazprom have signed a cooperation agreement to create and jointly operate offshore field development infrastructure. The agreement was signed by Igor Sechin, President and Chairman of the Management Board at Rosneft, and Alexei Miller, Chairman of the Management Board at Gazprom, in the presence of Russian Prime Minister …
Rosneft and Statoil Sign Shareholder Agreements for Russian Offshore Exploration Joint Ventures
Rosneft and Statoil today signed Shareholder and Operating Agreements that will establish joint ventures for the four offshore Russian license areas included in the Cooperation Agreement signed by the two companies on May 5, 2012. The license areas in question are Perseevsky in the Barents Sea and Kashevarovsky, Lisyansky and …
Rosneft Launches Seismic Survey in Pechora Sea
Rosneft has begun offshore exploration at the South Russky license block in the Pechora Sea. A 3D CDP seismic survey covering 1,200 square kilometres is being carried out by three field exploration parties from Yuzhmorgeologiya. Yuzhmorgeologiya, Iskatel 5, Vyborgsky and Petrogradsky research vessels as well as some 20 auxiliary vessels …