A senior executive at Rosneft, whose alliance with BP has a drawn a legal challenge from the British major's co-investors in rival TNK-BP, scoffed at the prospect of TNK-BP as a potential partner.
"They have neither the technology, nor the experience, nor the personnel," Rosneft chief financial officer Peter O'Brien said at an investor conference on Wednesday.
A London court on Tuesday blocked the tie-up pending arbitration Feb. 25 over a claim by the Russian consortium that owns half of TNK-BP that BP must pursue its business in Russia through the joint venture.
O'Brien's remarks were at odds with the conciliatory tone struck a day earlier by BP chief executive Robert Dudley, himself a former TNK-BP chief.
Rosneft won a deal to drill for oil in the Arctic Kara Sea with BP, which will also swap stakes with Rosneft to increase its holdings to nearly 11 percent.
Deputy Prime Minister and Rosneft chairman Igor Sechin presided over the deal.
Russia faces significant obstacles to maintaining output and developing new oil provinces with harsh climates and little infrastructure.
"I do not see a resolution before the start of the arbitration process," O'Brien said, speaking in Russian.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
