print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Rosneft Oil Company press releases

Rosneft Oil Company

September 3, 2015

Rosneft and Sinopec agree on the joint development of Russkoye and Yurubcheno-Tokhomskoye fields

Rosneft and China Petrochemical Corporation (Sinopec) signed the Heads of Agreement on cooperation within the proposed joint development of Russkoye and Yurubcheno-Tokhomskoye fields. The document was signed by the Chairman of Rosneft Management Board Igor Sechin and the Chairman of China Petrochemical Wang Yupu during the visit of the Russian President Vladimir Putin to Beijing and in presence of the President of People's Republic of China Xi Jinping.

Under the agreement, Sinopec Group has the right to acquire a 49% stake in East Siberian Oil and Gas Company (ESOGC) and Tyumenneftegaz, that hold the exploration licenses for Russkoye and Yurubcheno-Tokhomskoye fields respectively.

Both parties agreed that the two oil and gas fields listed in this new agreement have bright prospects. The two fields are located in one of the key regions of Rosneft operations. Joint development of tight oil reserves will allow Sinopec Group and Rosneft to mitigate the operational risks of the projects. The cooperation will also enhance the projects' capacity in financing, technology and implementation. Both parties look forward to collaborating further on exploration and production.

As a next step, Sinopec Group and Rosneft will 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.
Sinopec Group and Rosneft deeply value their partnership with each other. Both parties have achieved positive outcomes in the past in their cooperation on the Udmurtneft and Sakhalin 3 projects.

Rosneft Information Division
Tel.: + 7 (499) 517-88-97
September 3, 2015

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer