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Saudi Aramco CEO to discuss cooperation with Russian oil producers in Moscow

November 09, 14:39 UTC+3 MOSCOW

Saudi Aramco is discussing a purchase of a share in the Arctic LNG 2 project with Novatek

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MOSCOW, November 9. /TASS/. Chief Executive Officer of Saudi Arabia’s Saudi Aramco Amin Nasser who is currently paying an official visit to Moscow, plans to hold talks with heads of Russian oil producers.

"We are going to meet with Rosneft, with Novatek, Gazprom Neft, and RDIF (Russian Direct Investment Fund - TASS). We have a lot of engagements with our partners and looking at opportunities for growth in Russia and globally," he said on Friday.

Rosneft Spokesman Mikhail Leontyev confirmed to TASS earlier that a meeting between the company’s Chief Executive Officer Igor Sechin and Amin Nasser is planned for Friday.

In June, it was reported that Rosneft and Saudi Arabia were discussing the possibility of organizing swap supplies of heavy oil grades to refineries, as well as cross-supplies of oil products. Igor Sechin also discussed the possibility of developing mutually beneficial cooperation in the field of oilfield services, petrochemicals and international trading earlier with Saudi Arabia's Minister of Energy, Industry and Natural Resources, Chairman of the Board of Directors of Saudi Aramco Khalid al-Falih.

Saudi Aramco is discussing a purchase of a share in the Arctic LNG 2 project with Novatek. The company is ready to become the second-biggest shareholder of the project after Novatek, Khalid al-Falih said earlier in an interview with TASS. It was also reported that the company might invest about $5 bln in the project.

Gazprom Neft and Saudi Aramco are discussing joint scientific technological projects as they have identified six cooperation areas, including import substitution and localization of oil production and exploration equipment along with catalyst production. They are also discussing opportunities to cooperate in drilling technologies, multistage fracturing, oil production from tight reservoirs and carbonate reservoirs and simulation of fields.

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