African countries expect Russian cos to help build oil refineries

MOSCOW. Aug 8 (Interfax) - African countries with oil reserves need refining capacity and expect Russian companies to participate in these projects, the chairman of the Russia-Sudan Business Council of the Russian Chamber of Commerce and Industry, Viktor Chemodanov said.

"They want to buy and are buying energy resources from us - oil products, chemicals. African countries are interested in having our companies build oil refineries with them that they do not have enough of. There is oil there, but they don't know what to do with it," Chemodanov said in an interview with Interfax.

"As far as I've heard, I think Tatneft, which built a multimillion plant in Tatarstan, is very interested in such a project and ready to share its experience," he said.

"In the area of exploration and extraction, meanwhile, colossal investments are needed. Their deposits are explored to about 15%, and the necessary documents for making decisions exist for only 5%," Chemodanov said.

"In this regard, Rosgeo and Zarubezhgeologia are carrying out work on predictive geological mapping so that our businesses can rely on something. Africa is a huge field for work in the economy. We have oil extraction technology and oil and gas equipment and we're prepared to offer them," Chemodanov said.

At the Russia-Africa summit in late July, Tatneft deputy CEO for strategic development Nurislam Syubayev said that the company is prepared to offer engineering services for the construction of oil refineries and in the area of oil and gas extraction, and to supply fuel and petrochemical feedstock to African countries.