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Rosneft can finance the purchase of a stake in TNK-BP through market instruments alone, Sechin said

September 21, 2012, 13:42 UTC+3
Rosneft and Gazprom by 2015 will invest in offshore projects up to 500 billion roubles
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Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, September 21 (Itar-Tass) — Rosneft and Gazprom by 2015 will invest in offshore projects up to 500 billion roubles, head of Rosneft Igor Sechin told reporters at the Sochi-2012 Investment Forum. According to him, the level of investment of the two companies in the development of offshore fields currently amounts to 40 billion roubles.

“We are working in full cooperation with the government, we very much hope that in the near future legislative measures will be taken to encourage offshore development,” said Sechin.

He said that according to expert estimates, the influence of offshore field development projects on the country’s economy is overestimated. According to him, investments in the offshore oil and gas project will amount to over 400 billion US dollars, and investments in the related industry sectors will be some 200-300 billion dollars. Thus, it will make it possible to calculate GDP growth at more than 2-3 trillion dollars. The tax revenues will exceed 800 million dollars.

Rosneft can finance the purchase of a stake in TNK-BP through market instruments alone, Sechin also said. According to him, Rosneft has received many offers from lending institutions. According to him, the financial standing of Rosneft is stable, so “there is no doubt that if we need to attract resources for the purchase of TNK-BP we will be able to finance the transaction through market instruments alone, with no loans and capitalisation support.”

 

 

 

 

 

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