Rosneft Extends List of Projects for Foreign Investors, Including Japan

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Rosneft President Igor Sechin said the company had extended the list of projects for foreign investors and has offered its Japanese partners projects with total reserves of 6 billion barrels of oil equivalent (boe) and resources of 100 billion boe.

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"I'd like to say that we are offering for discussion a series of projects that will expand our traditional offers considerably. These projects include the Astrakhanovskoye More-Nekrasovsky, Kaigansko-Vasyukanskoye More and Deryuginsky license areas near the Sakhalin-1 offshore project," Sechin said in his keynote speech at the International Conference on Energy Cooperation between Russia and Japan.

"The aggregate proven reserves have been estimated at 40.2 million metric tons of oil and 44 billion cubic meters (bcm) of gas, and the perspective resources stand at 231 million metric tons of oil and gas condensate and 21 bcm of gas." 

Rosneft president said they had invited foreign companies to invest in existing and planned projects in Eastern Siberia and Russia's Far East, namely the Verkhnechonskoye, Srednebotuobinskoye, Tagulskoye, Russkoye and other developments, where Rosneft plans to increase production to over 30 million metric tons of oil and 16 bcm of gas annually. 

"Our offer also includes a project to increase output through the use of enhanced oil recovery methods and through gas production at the Kharampurskoye, Kynsko-Chaselnoye and Russko-Rechenskoye fields, as well as the promising Pechora LNG gas project," Sechin said. 

"Rosneft has offered its Japanese partners over a dozen production projects at different stages of development, from exploration to commercial production. Our Japanese partners are aware of the majority of the projects Rosneft is offering for cooperation. We've held many talks on them, but the outcome has been modest so far — we're still at the negotiating stage. I'd like to add, though, that your colleagues from China and India have agreed to join these projects," according to Rosneft CEO.    

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