Rosneft and ExxonMobil Announce Progress in Strategic Cooperation Agreement
Rosneft and ExxonMobil today signed agreements to implement a long-term Strategic Cooperation Agreement concluded in August 2011 to jointly explore for and develop oil and natural gas in Russia and to share technology and expertise. Joint ventures being created to explore in Russian Black Sea and Kara Sea; initial planning …
Field Development Plan Being Specified at Block 245 South in Algeria
Rosneft-Stroytransgaz Limited (RN-STG), controlled by Rosneft and Stroytransgaz, is working jointly with Sonatrach, Algeria’s national oil company, to begin reservoir delineation at three earlier discovered deposits within Block 245 South in Algeria. The three deposits are East Takuazet, West Takuazet and North Tisselit. The aim of reservoir delineation is to …
Ministry of Economic Development Approves Rosneft’s APG Utilisation Investment Projects
The Ministry of Economic Development of the Russian Federation has passed an order approving two of Rosneft’s APG joint implementation investment projects. The order, No. 112 of 12 March 2012, approves a project to reduce APG flaring and generate electricity at the Khasyreiskoye deposit and a project to utilise APG …
Rosneft Concludes Public Hearings on Seismic Study Programme at Three Blocks in the Western Arctic
Rosneft has concluded a series of public hearings on its 2012 seismic study programme for the East Prinovozemelsky 1 and 2 blocks in the Kara Sea and the Youzhno Russky block in the Pechora Sea. Public hearings began in early February in Arkhangelsk and in the village of Yar-Sale in …
Rosneft VP, Pavel Fedorov, Appointed Deputy Minister in the Ministry of Energy
In connection with Rosneft First Vice President Pavel Fedorov’s move to work as Deputy Minister in the Ministry of Energy of the Russian Federation, his responsibilities have been reassigned to members of the Rosneft management board. Pavel Fedorov had worked at the Company since April 2010. He oversaw the financial …
Arctic Exploration: Industry’s Cold Feet Begin to Thaw as Activity Hots Up
Mark Thomas The fact that the Arctic offshore contains huge estimated oil and gas reserves is nothing new, despite the relatively small amount of hydrocarbons currently being produced from its waters. But a gradual thawing in the arguments against why responsible exploration and development activity cannot take place has brought …
Rosneft Consolidates Stake in OJSC Vostsibneftegaz
Rosneft has increased its stake in OJSC Eastern Siberian Oil and Gas Company from 70.78% to 99.87% through the acquisition of shares from Montenore Investment LTD and from minority shareholders as part of a mandatory buy back offer procedure. The Company paid 9.3 billion rubles to consolidate its stake in …
Rosneft Closes Acquisition of 35.3% Stake in Taas-Yuryakh Project from Sberbank
Rosneft has closed a deal to acquire a 35.3% stake in Taas-Yuryakh Neftegazodobycha from Sberbank. The value of the deal was set to correspond to the historic cost of the project for Sberbank, equalling $444 million. Taas-Yuryakh Neftegazodobycha is the holder of oil production licences for the Srednebotuobinsk oil and …
Rosneft Appoints Vice President for Refining
Igor Pavlov was appointed Rosneft vice president for refining on March 11, 2012. Igor Pavlov has extensive experience in refining, having worked at Angarsk Petrochemical Company in 1989-2008 and as CEO of OJSC Achinsk Refinery in 2008-2012. Commenting on the appointment, Rosneft President Eduard Khudainatov said: “In implementing our large-scale …
Rosneft: Results of the Board Meeting
At a meeting of the Rosneft Board of Directors on March 5, 2012 it was decided that the next annual general shareholders’ meeting (on 2011 results) be held on June 20, 2012 in St. Petersburg. May 4, 2012 was set as the record date. The Board of Directors also set …