Rosneft, Sinopec Agree on Joint Development of Russian Fields

Rosneft and Sinopec have agreed to work together on the development of the Russian Russkoye and Yurubcheno-Tokhomskoye fields.

Under the agreement, which was signed during Russian President Vladimir Putin’s visit to Beijing, Sinopec has the right to acquire a 49 percent stake in East Siberian Oil and Gas Company and Tyumenneftegaz, which hold the exploration licenses for Russkoye and Yurubcheno-Tokhomskoye, respectively.

Sinopec Group and Rosneft will now set up a joint technical group to finalize the investment plan and agreement. The closing of the transaction is subject to a number of standard conditions including approval from governmental authorities.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post 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.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Aberdeen Firm to Hire More Staff in 20... (Mar 30)
 -  CGG, KGOC Teams to Work Together on In... (Mar 30)
 -  Aker Solutions Reduces Total Headcount... (Mar 30)
 -  First Workers Complete New Industry Tr... (Mar 29)
 -  Mexico, UK Strengthen Ties with 5-Day ... (Mar 29)


Most Popular Articles

From the Career Center
Jobs that may interest you
Petroleum Engineering Intern
Expertise: Petroleum Engineering|Student / Recent Grad
Location: Houston, TX
 
US Houston: Attorney (Environmental Law)
Expertise: Environmental Engineer|Legal
Location: Houston, TX
 
United States Rock Springs: Field Service Quality Coordinator - Cementing
Expertise: Operations Management|Planner / Scheduler|Production Engineering
Location: Rock Springs, WY
 
search for more jobs

Brent Crude Oil : $52.42/BBL 2.12%
Light Crude Oil : $49.51/BBL 2.35%
Natural Gas : $3.17/MMBtu 2.25%
Updated in last 24 hours