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Rosneft signs set of agreements on joint oil production with China’s companies

The Rosneft spokesman gave no exact level of oil supplies hike, but only mentioned that they will be considerable

BEIJING, February 19 (Itar-Tass) – Russia’s state oil company Rosneft has signed a package of agreements on confidential access to information on oil production joint projects with the Chinese National Petroleum Corporation (CNPC) and Sinopec company, Chairman of Rosneft Press Service Vladimir Tyulin told Russian reporters in Beijing on Tuesday.

“We inked an agreement on privacy of the access possibility to information on the production joint projects with both CNPC and Sinopec,” he repeated, adding that the documents embrace oil production projects. The signing of the documents of the kind means that the two sides start taking real steps towards implementation of joint projects in the sphere in the future.

“Besides, we signed a memorandum of joint activity with Sinopec,” Tyulin said, adding that the document envisages cooperation mainly in the production and refining spheres. In his words, the document also points to the fact that the two sides reached mutual understanding regarding the oil supplies growth.

The Rosneft spokesman gave no exact level of oil supplies hike, but only mentioned that they will be considerable.

The issue of the liquefied natural gas (LNG) was discussed at the talks, Tyulin said replying to Itar-Tass question, adding that the company made the relevant proposals to its Chinese partners. “The matter is being discussed as a very promising sphere of interaction. China is interested in the cooperation in this area,” he said.

The above-mentioned agreements were signed in the format of Rosneft CEO Igor Sechin’s working visit to China, which started on February 17. On Tuesday, Sechin had already the second meeting over the time of the visit with China’s Vice Premier of the State Council Wang Qishan.

During the meeting, the two sides highly assessed the results of joint activity, while pointing to the considerable progress in various spheres of cooperation. Later in the day, the Rosneft CEO flies with a working visit to Japan.

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