19 Jan 2011 19:15

BP, Rosneft will control Arctic JV 50-50 in exploration phase

MOSCOW. Jan 19 (Interfax) - Rosneft and BP will manage their joint venture to develop the three Vostochno-Prinovozemelsky sections in the Arctic on a 50-50 basis throughout the geological exploration period, Rosneft Preisdent Eduard Khudainatov told journalists.

"The geological exploration work will be performed on a concessionary, 50-50 project-management basis," he said.