23:01 GMT +315 November 2019
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    Four foreign firms ready for Arctic development says Rosneft

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    State-run oil giant Rosneft has chosen three or four foreign companies for cooperation in the development of Russia's energy-rich Arctic shelf, CEO Eduard Khudainatov said on Friday without naming them.

    State-run oil giant Rosneft has chosen three or four foreign companies for cooperation in the development of Russia's energy-rich Arctic shelf, CEO Eduard Khudainatov said on Friday without naming them.

    "The number of companies that have enough potential for this partnership in the world is small. They are three or four companies. We are working with all of them," Khudainatov told RIA Novosti.

    Rosneft had clinched an agreement to develop the shelf with BP, where the British giant was to contribute technologies. But the deal flopped after the Russian partners in BP's local venture, TNK-BP, contested the contract, forcing Rosneft to look for a new partner.

    Khudainatov has said that almost every international vertically integrated company has expressed a desire to participate in the project.

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