Arctic Offshore Oil Drilling – Rosneft Plans Expansion

New CEO, Igor Sechin, of Russian Oil giant Rosneft highlights Arctic projects

According to a report in 'Barents Observer' Rosneft will be the main partner of Statoil and Eni in the Barents Sea, where the new CEO has highlighted the importance of three grand projects in the Russian Arctic.

Sechin, who was recently appointed new CEO of the state-owned oil giant, stresses that big projects like the one in the Barents Sea and the Kara Sea will be given special attention under his leadership.

In a meeting with PM Dmitry Medvedev, Sechin maintained that the implementation of grand offshore projects like the ones in the Barents Sea, the Kara Sea an the Black Sea, will be a top priority along with the supply of oil products with stable prices to the Russian domestic market and the modernization of oil processing facilities.

Medvedev supported Sechin’s choice of priorities and underlined that a number of groundbreaking projects with foreign partners have successfully unfolded over the last years. He also confirmed that he in last weekend’s G8 meeting discussed the role of Rosneft’s giant offshore projects with world leaders.