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Rosneft invests $500M in development of shelf deposits current year

October 06, 2012, 14:03 UTC+3

The company owns licenses for 29 fields and has applied for 14 more

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MOSCOW, October 6 (Itar-Tass) —— Rosneft has invested in 2012 in the programme of developing new shelf deposits the amount of 500 million dollars, the company’s Head Igor Sechin said during a presentation in London.

Rosneft’s planned resources off-shore make 190 billion barrels in oil equivalent. The company owns licenses for 29 fields and has applied for 14 more.

Earlier, Itar-Tass said Rosneft’s partners in development of off-shore projects in the Russian Federation were the US Exxon, Italy’s ENI and Norway’s Statoil.

Rosneft’s presentation demonstrates that the company’s long-term objective in the gas market is cooperation with ITERA in approaching the production of 100 billion cubic metres of gas. Within the current year, the partners plan to produce 26 billion cubic metres of gas. By 2017, the joint production with ITERA is to make 77 billion cubic metres of gas, the presentation showed.




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