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Rosneft to choose new Arctic shelf partners by yearend - minister

November 18, 2014, 14:50 UTC+3 MOSCOW
The US oil giant ExxonMobil earlier suspended partnership with Rosneft on the shelf of the Kara Sea in the Russian Arctic over US sectoral sanctions against Moscow
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© ITAR-TASS/Nikolai Nikitin

MOSCOW, November 18. /TASS/. Russian oil major Rosneft will submit a plan of Arctic shelf development considering sanction restrictions until the end of 2014, Natural Resources Minister Sergey Donskoy said on Tuesday.

“You know the story with Exxon and other companies. Correspondingly, Rosneft is looking for alternative scenarios. At least the colleagues have promised until the end of this year to submit their assessment of how they are going to further develop their project,” Donskoy said.

The US oil giant ExxonMobil earlier suspended partnership with Rosneft on the shelf of the Kara Sea in the Russian Arctic over US sectoral sanctions against Moscow over the Ukraine crisis.

“Now about the countries, which want to participate. China, for example, has stated its interest in the Arctic. I believe Rosneft should independently choose partners from among the countries, which have not set any sanctions against Russia and a final choice will depend on this,” the minister said.

“We’re ready to consider proposals from those who will be interested in taking part in the project,” the minister said.

In early September the Russian government granted Rosneft the right to develop the Deryuginskoye deposit. Under the Russian law on subsoil, these continental shelf blocs of federal significance are provided for exploration and development without auctions.

Infographics Economical sanctions against Russia Economical sanctions against Russia
The USA, EU, Canada and Australia have introduced sanctions against Russia over its involvement in the Ukrainian crisis. Infographics by ITAR-TASS

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