Rosneft to establish Arctic offshore department
Russian state-owned oil company Rosneft will this year establish a new department on Arctic offshore development.
In connection with the company’s stronger engagement in Arctic waters, there is a need for a new specialized company structure, Rosneft leader Eduard Khudainatov said at the company’s annual shareholders meeting on Friday.
The new structure will deal exclusively with offshore projects, Khudainatov said, Oilru.com reports.
He also underlined that Rosneft in the “near future” intends to team up with a foreign partner company for joint activities on the Russian Arctic shelf. He declined however to name the possible foreign partner.
Read more:Shell targets Russian Arctic
As BarentsObserver reported, the much-announced agreement between Rosneft and BP in the Kara Sea collapsed after minority shareholders in the TNK-BP company refused to accept the deal.
