Rosneft, Petrovietnam To Jointly Work On Shelf Blocks In Pechora Sea

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Rosneft has agreed to set up a joint venture with Petrovietnam to develop two shelf blocks in the Pechora Sea in the Arctic off northwest Russia.

Reuters

MOSCOW, Sept 5 (Reuters) - Rosneft, Russia's top oil producer, said on Friday it had agreed to set up a joint venture with Vietnamese state energy firm Petrovietnam to develop two shelf blocks in the Pechora Sea in the Arctic off northwest Russia.

Rosneft will get a 66.67-percent stake in the joint venture, it added in a statement. First memorandum of understanding on joint hydrocarbons exploration in the Pechora Sea was signed in November of last year.

(Reporting by Olesya Astakhova; Writing by Polina Devitt; Editing by Lidia Kelly)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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Arthur | Sep. 7, 2014
Rosneft is doing a lot of efforts to make its own way to Asia. Vietnam is a long history partner but China is a new opportunity which will be more interesting in volumes.


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