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Lukoil, TNK-BP want to cooperate with Rosneft on Russian shelf

May 06, 2012, 1:53 UTC+3

Earlier, only LUKOIL stated that it was negotiating with Rosneft the joint development of offshore fields

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MOSCOW, May 6 (Itar-Tass) — LUKOIL and TKN-BP are interested in working together with Rosneft on the Russian shelf, Rosneft President Eduard Khudainatov said at the briefing on Saturday. “LUKOIL and TNK-BP have expressed their interest,” he said.

Earlier, only LUKOIL stated that it was negotiating with Rosneft the joint development of offshore fields. On Friday, RF Deputy Prime Minister Igor Sechin told journalists that Rosneft has created a working group with two Russian companies.

According to Khudainatov, Rosneft is ready to work with all the world’s leading oil companies that have experience and expertise, technologies, especially environmental, for the work on the shelf. “In particular, the Rosneft head pointed out, this also concerns the Arctic fields. So these companies, Khudainatov added, should agree to the commercial terms and conditions of work that Rosneft offers.

Speaking about Russian oil companies, Khudainatov said that Rosneft has made proposals to all Russian companies wishing to work on the shelf - TNK-BP, Surgutneftegaz, LUKOIL, Bashneft and others.

According to Itar-Tass earlier reports, the working group with LUKOIL, according to the company CEO Vagit Alekperov, “will consider the possibility for both companies to work effectively on the shelf of the Russian Federation.” The LUKOIL head noted that “after May 10, of the group will begin active work.” A number of fields for the joint work have already been determined, in particular, LUKOIL is interested in a number of fields in the Barents and Black Seas.

Alekperov said earlier that LUKOIL is ready to offer Rosneft its geological prospecting projects, including in West Africa, in exchange for the entry into Rosneft’s offshore projects. “We agree to the terms that Rosneft offers its foreign partners for the work on the shelf,” Alekperov said. However, he noted that LUKOIL has advantages, compared with other Russian companies, including year-round storage terminal for the export of oil in the Arctic, as well as extensive work experience on the shelf.


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