Rosneft, Statoil negotiate joint projects

Rosneft President, Chairman of the Management Board Igor Sechin held negotiations with Statoil CEO Helge Lund.

The parties discussed joint projects on geological exploration on the Russian continental shelf in the Barents Sea and the Sea of Okhotsk, and projects on the development of Domanic deposits at the license blocks of Rosneft in Samara region.

In May 2012 Rosneft and Statoil signed a Strategic Cooperation Agreement, which provides for joint development of four license blocks in the Barents Sea and the Sea of Okhotsk.

In June 2013 the companies signed an agreement for basic terms of the implementation of a joint project on the development of Domanic deposits at 12 license blocks of Rosneft in the Samara region. Rosneft participation interest in the project is 51%, Statoil – 49%.