Eni, Rosneft strengthen cooperation

Italian energy giant and LNG player Eni signed a cooperation agreement with Russia’s Rosneft. 

Under the agreement, signed by Rosneft’s CEO Igor Sechin and Eni’s CEO Claudio Descalzi, the two companies intend to cooperate in Russia and abroad in the E&P, refining, trading, logistics and marketing, petrochemicals and technology and innovation sectors.

The meeting consolidated previous agreements for the joint development of exploration activities in the Russian Barents Sea and Black Sea, and will underpin further opportunities between the two groups, including the Zohr project, the statement reads.

In terms of downstream operations, the parties will evaluate the use of Eni’s technology for processing heavy oil residues at Rosneft’s refineries and the cooperation in refining activities at German refineries where both companies are shareholders.