Venezuela gives Russia’s Rosneft gas field concessions: Rosneft

18 Dec 2017   Russia, Venezuela

Venezuela has awarded licenses to a unit of Russian oil major Rosneft ( ROSN.MM ) to develop two offshore gas fields, Rosneft said in a statement. Venezuelan President Nicolas Maduro signed the deal during a visit to Venezuela by Rosneft CEO Igor Sechin, it said. During the visit, Sechin also discussed Rosneft’s cooperation with Venezuelan state energy company PDVSA, the statement said. Under the agreement, which is valid for 30 years, wholly-owned Rosneft unit Grupo Rosneft will become the operator of the Patao and Mejillones offshore gas fields, Rosneft said. Head of Russian state oil firm Rosneft Igor Sechin (standing L) shakes hands with Venezuela’s Oil Minister and President of the Venezuelan state oil company PDVSA Manuel Quevedo, in front of Venezuela’s President Nicolas Maduro, in Maiquetia, Venezuela December 16, 2017. Miraflores Palace/Handout via REUTERS Rosneft will have the right to sell all of the fields’ […]

Comments are closed.