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    Rosneft Sells 20% Stake in Taas-Yuryakh Joint Venture to BP

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    Rosneft and BP have closed a transaction on selling a 20 percent stake in the oil and gas joint venture Taas-Yuryakh Neftegazodobycha to the British company, reads a joint Rosneft-BP statement.

    A plaque for the Rosneft Oli Company is seen outside the company headquarters in Moscow, Russia.
    © AP Photo/ Mikhail Metzel, File
    MOSCOW (Sputnik) The Russian company has also announced plans to include another partner in the joint venture. This will have favourable long-term consequences for the project.

    The Rosneft-BP joint venture will continue to develop the Srednebotuobinskoye oil and gas-condensate deposit, one of the largest in Eastern Siberia, through the oil and gas joint venture Taas-Yuryakh. Taas-Yuryakh will also create the infrastructure necessary to prospect for and develop these regional resources.

    “Cooperation between our companies under this project will expand the infrastructure and production facilities at Eastern Siberian deposits,” the statement notes.

    Commenting on the final transaction, Rosneft CEO Igor Sechin noted that he saw great potential in expanding this project and in more actively developing the nearby licensed deposits. To quote from the press release: “We are hoping for integral cooperation with BP, our strategic partner and shareholder, during the development of Eastern Siberian resources.” For his part, BP Russia President David Campbell said his company was counting on successful cooperation with Rosneft in this area. We are confident that we’ll receive new opportunities to expand production at the deposit and discover other promising deposits, Mr Campbell noted. The joint venture confirms BP’s commitment to remain a long-term strategic partner in Russia, he added.

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