Rosneft, Lukoil Agree to Joint Offshore-Exploration Deal



MOSCOW (Dow Jones Newswires), Apr. 21, 2011

Rosneft and the country's biggest private oil producer, Lukoil, on Thursday signed a long-term cooperation deal that includes offshore exploration in Russian Arctic waters.

The two companies agreed to work together on "geological exploration in the license areas of Rosneft on Russia's shelf and development of fields already discovered," Lukoil and Rosneft said in a joint statement.

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