Rosneft & Cupet to Cooperate at Brownfields, Cuba

Maritime Activity Reports, Inc.

July 13, 2014

Head of Rosneft Igor Sechin and General Director of Union CubaPetroleo Juan Torres Naranjo signing  the Agreement

Head of Rosneft Igor Sechin and General Director of Union CubaPetroleo Juan Torres Naranjo signing the Agreement

On July 11, Head of Rosneft Igor Sechin and General Director of Union CubaPetroleo (CUPET) Juan Torres Naranjo signed in Havana the Agreement on Cooperation in the Area of Enhanced Oil Recovery at Brownfields. The Agreement was signed in the presence of the Russian President Vladimir Putin and the President of the State Council of Cuba Raul Castro.

The document provides for the joint activities concerning comprehensive studies of field development and well production conditions in the territory of Cuba. The purpose of the studies is to identify options to optimize oil production processes, improve well stock operating efficiency and performance of enhanced oil recovery activities.

Igor Sechin is participating in the series of bilateral talks during Vladimir Putin's visits to South American countries.

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