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Rosneft agree with INPEX on joint offshore operations


Published May 31, 2013
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Rosneft - Vankor field

Rosneft signed a cooperation agreement with INPEX CORPORATION (INPEX) to jointly explore license offshore blocks Magadan-2 and Magadan-3 in the Russian section of the Sea of Okhotsk. Estimated recoverable resources of the two blocks stand at 1,577 million tonnes of oil equivalent.

The agreement, signed by Igor Sechin, Rosneft President and Chairman of the Management Board, and Toshiaki Kitamura, President and CEO of INPEX, envisages cooperation between the parties in setting up a joint venture to explore the above-mentioned blocks. INPEX will hold a 33.33% stake in the project.

Tags: Inpex Corporation, Rosneft




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