08:34 GMT29 November 2020
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    Rosneft is discussing with China the country's participation in Arctic shelf energy and extraction projects

    BEIJING (Sputnik) Russian energy company Rosneft is discussing with China the country's participation in Arctic shelf energy and extraction projects, Russian Deputy Energy Minister Anatoly Yanovsky said Monday.

    "The topic is in discussion at the company level. As far as I know, Rosneft is negotiating, discussing," Yanovsky told RIA Novosti, answering a question on which companies are currently in talks with China on participating with Russian energy-related natural-resource-extraction projects on the Arctic shelf.

    In early September, China Oilfield Services Limited (COSL) signed deals with Rosneft and Norwegian Statoil to drill two exploration wells in the Sea of Okhotsk. Rosneft head Igor Sechin said the agreements unlocked new cooperation potential for oil and gas resource exploration by industry leaders in Russia, Norway and China.

    The Arctic shelf is believed to hold huge amounts of oil and natural gas. Russia has laid claim to deposits within its offshore border areas.

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    Tags:
    Rosneft, Arctic, China, Russia
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