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Rosneft Offers Shelf Joint Development to Four Russian Cos

© RIA Novosti . Alexey Nikolskiy / Go to the photo bankRosneft Offers Shelf Joint Development to 4 Russian Firms
Rosneft Offers Shelf Joint Development to 4 Russian Firms          - Sputnik International
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Russian oil giant Rosneft has made an offer on joint development of 12 fields at the Arctic shelf to four Russian energy companies: LUKoil, Bashneft, Surgutneftegas and TNK-BP, Rosneft head Eduard Khudainatov said on Monday.

Russian oil giant Rosneft has made an offer on joint development of 12 fields at the Arctic shelf to four Russian energy companies: LUKoil, Bashneft, Surgutneftegas and TNK-BP, Rosneft head Eduard Khudainatov said on Monday.

"Last week I sent them a letter with an offer to work jointly on the shelf. We are offering them 30 percent stakes [in projects]," Khudainatov told reporters, adding that the 12 fields were located near Norway's shelf and in Russia's Far East.

The Russian government decided last week not to levy export duties on new hydrocarbon development projects on the Russian shelf. As for other duties and taxes, they will also be low or fixed within 15 years from the date of the production launch.

Under current rules, only companies with over 50 percent state ownership and no less than five years' experience of working in marine exploration can develop the Russian continental shelf. Only Rosneft and gas giant Gazprom currently meet these requirements.

 

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