17 Aug 2018 14:41

Rosneft, BP JV replaces CEO as predecessor moves to ChechenBitum

MOSCOW. Aug 17 (Interfax) - The head of Kynsko-Chaselskoye Neftegaz Sergei Slichny was appointed as CEO of Kharampurneftegaz LLC, a joint venture (JV) between Rosneft and BP, in mid-July replacing Valery Fomin, the SPARK-Interfax system shows.

As reported, Fomin became the head of ChechenBitum LLC which was registered in April. According to SPARK-Interfax the company is wholly owned by RN-Pererabotka LLC, a Rosneft subsidiary.

Rosneft selected VNIPIneft to develop materials for the preliminary technical and economic analysis for the construction of a bitumen plant in Chechnya last year.

At the end of last year Rosneft and BP reached an agreement to implement a project to develop resources in the Yamal-Nenets Autonomous District at the Khamapurskoye and Festivalnoye licensed sections with total geological reserves of over 880 billion cubic meters (bcm) of gas. In Q2 2018 BP acquired a 49% stake in Kharampurneftegaz which will implement the project. The owner of the remaining 51% stake is a specialized Rosneft holding RN-Gaz LLC. BP expects Rosneft to transfer the licenses for the Kharampursky and Festivalny sections to Kharampurneftegaz this year.

Kynsko-Chaselckoye Neftegaz, a Rosneft subsidiary holds the licenses for the Vostochno-Tolkinsky, Kypakysky, Kynsko-Chaselsky and Yutyrmalsky hydrocarbon sections in