Exploration & Production

Rosneft and CNPC sign deal for Russian oil and gas exploration

Rosneft and CNPC have signed an agreement to cooperate on oil and gas exploration and production in Russia.
By Staff reporter 13 September 2018 0 32527

Rosneft and China National Petroleum Corp. (CNPC) have signed an agreement to cooperate on oil and gas exploration and production in Russia, Rosneft said on Wednesday.

Under the deal, CNPC will have an opportunity to acquire minority shares in Rosneft’s major oil and gas fields, particularly those in eastern and western Siberia.

The two state-owned companies also agreed to review CNPC’s proposal for it to help explore and develop the fields.

Separately, Rosneft signed an agreement with Beijing Gas Group to jointly...