Eni and Rosneft Complete Joint Exploration

Marinelink.com
Friday, June 21, 2013

Rosneft’s President and Chairman of the Management Board, Igor Sechin, and Eni’s CEO, Paolo Scaroni, in the presence of the Russian President, Vladimir Putin, have signed, at the Saint Petersburg International Economic Forum, a Completion Deed relating to the agreements for the joint development by the two companies of exploration activities in the Russian Barents Sea (Fedynsky block and Central Barents block) and Black Sea (Western Chernomorsky block).

The projects are part of the wider cooperation between Eni and Rosneft sanctioned under the Strategic Cooperation Agreement entered into by the parties on April 25, 2012, which provides for joint development of the Russian offshore blocks, technological and staff exchange and Rosneft’s participation in Eni’s international projects.

Eni and Rosneft formed three Joint Venture companies to operate the Russian offshore projects, with Rosneft holding a 66.67% stake and Eni holding the remaining 33.33% stake.

Eni undertakes to provide full carry-based funding, under the conditions provided in the existing agreements, to perform license obligations for oil and gas exploration. Besides, Eni will compensate Rosneft for 33.33% of expenses on acquisition of licenses.

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Technip Bags Woodside's Subsea Contract

Technip has been awarded a large(1) subsea contract by Woodside to support the development of the Greater Enfield Project offshore Western Australia, at a water

LNG-fueled Bulker Ordered from Korea

Hyundai Mipo Dockyard (HMD) has signed a contract to build a 50,000 dwt bulk carrier with ILSHIN LOGISTICS. The project is a collaboration between POSCO and ILSHIN

Broad Declines drag Baltic Index down

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on lower rates for capesize, panamax and supramax vessels.

Energy

Summer Cruise to North Sea Oil Rigs Amazes Tourists

Bored with palm-fringed beaches and turquoise seas? Then the gigantic oil platforms of the North Sea beckon. The first ever "rig-spotting" cruise just ended off the coast of Norway,

Technip Bags Woodside's Subsea Contract

Technip has been awarded a large(1) subsea contract by Woodside to support the development of the Greater Enfield Project offshore Western Australia, at a water

Staying Afloat Down Under?

In recent years, Australia has been a major growth area for offshore gas production and a key driver of offshore CAPEX, says Clarksons Research.   However, the

Offshore Energy

Summer Cruise to North Sea Oil Rigs Amazes Tourists

Bored with palm-fringed beaches and turquoise seas? Then the gigantic oil platforms of the North Sea beckon. The first ever "rig-spotting" cruise just ended off the coast of Norway,

Technip Bags Woodside's Subsea Contract

Technip has been awarded a large(1) subsea contract by Woodside to support the development of the Greater Enfield Project offshore Western Australia, at a water

Staying Afloat Down Under?

In recent years, Australia has been a major growth area for offshore gas production and a key driver of offshore CAPEX, says Clarksons Research.   However, the

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0896 sec (11 req/sec)