Skyland Petroleum Group Discussing Oil, Gas Production Projects in Russia

Skyland Petroleum Group is still interested in oil and gas projects in Russia and is in talks with several companies, according to Taas-Yuryakh Neftegazodobycha LLC, a Skyland representative.

MOSCOW (Sputnik) — Skyland Petroleum Group is discussing with several Russian oil and gas companies its participation in production projects in the country following cancellation of the deal on buying a share in a Rosneft subsidiary, Taas-Yuryakh Neftegazodobycha LLC, a Skyland representative said Thursday.

"Skyland is still interested in oil and gas projects in Russia and is in talks with several companies," the representative told RIA Novosti, answering a question on whether the group was interested in cooperation with Russian companies after cancellation of the deal with Rosneft.

Skyland Petroleum Group and a Chinese state-owned company have discussed with Rosneft the acquisition of a 29-percent stake in Taas-Yuryakh Neftegazodobycha LLC, but last week Rosneft agreed to sell 29.9 percent of shares of Taas-Yuryakh Neftegazodobycha LLC to Indian companies.

Taas-Yuryakh Neftegazodobycha LLC is developing one of the largest oil deposits in Eastern Siberia, with oil production standing at around 20,000 barrels per day.