Rosneft, BP expect to decide on joint shelf project in near future
LONDON. March 22 (Interfax) - Rosneft and BP expect to decide on a joint project on the shelf in the near future, president of the Russian state-owned oil company Igor Sechin said at a press conference.
"We would be glad to see BP on one of our large projects. We are working on choosing a hi-tech project on the shelf. I think we'll find a project in the near future," he said.
At present, Rosneft has 41 shelf section licenses on its balance sheet. Rosneft will work with BP under similar terms to the ones under which it works with its other foreign partners, Sechin said.
Furthermore, BP and Rosneft are working through issues regarding dry-land work on tight oil reserves, he said.
Rosneft has also made a proposal to BP regarding product distribution. The two companies are discussing interactions on international projects, as well.
Rosneft currently has Russian shelf agreements with U.S. company ExxonMobil, Italian company Eni and Norwegian company Statoil. It has agreed to develop three East Prinovozemelsky sections on the shelf of the Kara Sea, as well as the Tuapse trough in the Black Sea, with ExxonMobil. With Eni, Rosneft is going to develop the Central Barents and Fedynsky section in the Barents Sea, as well as the West Chernomorskaya area in the Black Sea (Val Shatsky). With Statoil, Rosneft plans to develop the Perseyevsky section in the Barents Sea and the Kashevarovsky, Lisyansky and Magadan-1 sections on the shelf of the Sea of Okhotsk. Its foreign partners each received a 33.33% interest in these projects.
