Rosneft announced late Sunday that it has signed a framework agreement with CNPC that will see the Chinese company purchase a 10-percent stake in ZAO Vankorneft – a Rosneft subsidiary that operates the Vankor oilfield in northeast Siberia.
The Vankor oilfield is located in the Turukhanskiy region. It covers some 155 square miles and contains recoverable reserves estimated at 3.6 billion barrels of oil and 6.4 trillion cubic feet of gas.
The deal was signed by Rosneft Chairman Igor Sechin and CNPC Chairman Zhou Jiping at the APEC (Asia-Pacific Economic Cooperation) summit in Beijing.
Commenting on the signing, Sechin said:
"Today's reached agreement show the systematic development of the large-scale cooperation with our Chinese partners, including the upstream area in the Russian Federation."
Have a news tip? Share it with Rigzone!
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you