BP eyes entering several new Rosneft projects

British BP is considering entering several new projects of Rosneft, Rosneft CEO Igor Sechin said at the Eurasian Economic Forum.

"Our major shareholder and long-term business partner BP has directly entered several Rosneft projects in Russia, such as Taas-Yuryakh and Yermak, and they are considering entering several new projects," Sechin said.

In addition, Rosneft is developing relations with other foreign partners. Thus, together with Chinese Sinopec, preparations are underway for the development of the North-Veninskoye gas-condensate field on Sakhalin.

"Udmurtneft is an example of a Russian-Chinese joint venture with Sinopec in the oil and gas sector in Russia. Beijing Gas is participating in the development of the Verkhnechonskoye oil and gas condensate field, and currently a zone of mutual interests is being formed in the adjacent license areas of this field. In addition, together with Sinopec, preparations are underway for the development of the North-Veninskoye gas-condensate field on Sakhalin," Sechin noted.

In addition, Indian ONGC is working with Rosneft within the Sakhalin-1 project, and a consortium of Indian companies, after joining the share capital of the Vankor field and Taas-Yuryakh, is considering the possibility of further expanding this cooperation.

Sechin also noted that Rosneft sees great prospects in the development of joint projects with ExxonMobil on the deep shelf of Mozambique.
New projects

Rosneft plans to launch more than 7 new mining projects in the next 1.5 years, Sechin added.

"In the next 18 months, we will launch more than 7 new world-class mining projects, which once again testifies to our commitment to stable supplies to a global market," he said.

According to him, Rosneft was able to achieve this thanks to the volume of investments in exploration and production.