Support The Moscow Times!

Rosneft Seeks 25 Licenses

Rosneft has applied to the Federal Subsoil Resource Use Agency for licenses to 25 Russian offshore properties, the oil company's chief, Eduard Khudainatov, told reporters.

"Rosneft already has 17 offshore licenses, and we've applied for another 25. We're in the process of receiving them," he said.

The company might involve foreign partners in developing these properties, Khudainatov said. "Talks with leading companies are held on a constant basis," he said.

Khudainatov said the main thing for Rosneft is to attract partners with leading offshore development technologies. Rosneft does not yet plan to involve Russian partners in shelf projects.

"We're in the process of obtaining important, attractive shelf properties. They are complex. Which of the Russian companies is capable of drilling on the deepwater shelf?" Khudainatov said.

Rosneft plans to draft and approve the company growth strategy to 2030 in the first half of 2011, Khudainatov told journalists. "I hope we manage to approve the strategy. It is, as you know, a very big document," he said.

The growth strategy calls for transforming Rosneft into a global oil and gas company, and was supposed to be submitted to the board of directors in the first quarter, but the $8 billion share swap with British Petroleum that was announced at the end of last week has caused a delay.

Khudainatov said he expects the completed growth strategy to be submitted during the first half of 2011.

Read more