News | September 12, 2018

Rosneft And CNPC Agree On Wider Cooperation In Exploration And Production

Rosneft and the Chinese National Oil and Gas Corporation (CNPC) signed the Agreement on Cooperation in Exploration and Production in the Russian Federation in the framework of the IV Eastern Economic Forum.

Under the agreement, CNPC will have an opportunity to acquire the minority shares in the major oil and gas projects of Rosneft, in particular, in eastern and western Siberia. Besides, Parties agreed to review the CNPC proposal for provision on market principles of services for these fields in the area of exploration, development and production of hydrocarbons.

Implementing the joint exploration and production projects will become a new milestone in integrated cooperation between the two largest energy corporations of Russia and China and will contribute to solution of strategic tasks set by the leaders of two countries.

SOURCE: Rosneft