Rosneft in Japan for Arctic Shelf Talks

MOSCOW - The head of Russia's state-controlled oil giant OAO Rosneft is traveling to Japan Tuesday to discuss partnerships on offshore projects, as the company tries to attract foreign firms to help tap the potentially vast but difficult-to-recover reserves on Russia's Arctic shelf.

The trip comes after Rosneft Chief Executive Igor Sechin spent two days in China for talks, including discussions on potential offshore projects with CNPC, Sinopec and CNOOC. Rosneft already has offshore partnerships with Exxon Mobil Corp., Eni SpA and Statoil ASA.

A spokeswoman for Rosneft declined to name the Japanese firms Mr. Sechin would meet with.

Russia is looking to the Arctic to maintain output in the long term as production at Soviet-era fields in western Siberia wanes.
 

 

Copyright (c) 2012 Dow Jones & Company, Inc.

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