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British BP considers participating in several new projects of Rosneft

Rosneft and BP are also participating in the Zohr project in Egypt and German processing business, according to Rosneft's CEO

© AP Photo/Caroline Spiezio

VERONA, October 19. /TASS/. British BP considers entering a number of new projects of Rosneft, CEO of Russian oil and gas producer Rosneft Igor Sechin said at the X Eurasian Forum on Thursday.

"Our largest private shareholder, BP, has already been included in a number of Rosneft projects: Taas-Yuryakh, Ermak and others. The company is considering the possibility of entering into a number of new projects. We are also participating in the Zohr project in Egypt and German processing business," Sechin said.

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Chief Executive Officer of BP Robert Dudley said earlier BP has no intentions to either increase or reduce its stake in Rosneft. "We are very happy with the level of shares we have. We do not want to reduce it or increase it. It’s a very good and comfortable level," Dudley said.

Dudley said he did not discuss the option of Rosneft’s buying back its shares from the government. At the same time, BP is not afraid of a potential change in its stake in such case. "No, I am not concerned about that," he said.

Acquisition of Russian oil producer Bashneft by Rosneft was good and the price paid by Rosneft was fair, Dudley said.

"I think this is a very good acquisition. I think it’s a very fair price for the acquisition," he added.

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