ST. PETERSBURG, May 26. /ITAR-TASS/. Russian oil giant Rosneft has signed 12 agreements with its foreign partners at the St. Petersburg International Economic Forum (SPIEF).

Rosneft signed an oil and oil product supply deal with Venezuela’s PDVSA. Rosneft has signed an agreement with Venezuela’s PDVSA to supply over 1.6 million tonnes of oil and 7.5 million tonnes of oil products over five years to the country. The total value of the contract was not disclosed, but an advance payment will amount to $2 billion.

In addition, a $1.3 billion oil product supply deal has been signed with Mongolia’s NIC, and an oil supply agreement with Petrovietnam.

It has also signed an agreement to establish a joint venture with Azerbaijan’s SOCAR, which will operate both in Russia and Azerbaijan.

In addition, Rosneft will operate jointly with Union CubaPetroleo in the territory of Cuba, as well as collaborate with India’s ONGC Videsh in development of the Russian shelf. Furthermore, Rosneft will cooperate in development of Domanic deposits in the Orenburg Region.

Rosneft will cooperate with Norway’s SeaDrill and North Atlantic Drilling and will get a stake in North Atlantic Drilling. It has also agreed with Italy’s Pirelli to buy a stake in it and to extend the partnership.