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Rosneft in Japan Talks

Rosneft will seek Japanese cash and technology to fund Siberian oil exploration at a meeting on Thursday, said two people with knowledge of the matter.

Rosneft will discuss 11 oil and gas licenses in Eastern Siberia and three blocks in the far eastern Magadan region with Japan's Agency for Natural Resources and Energy, one source said.

Japanese companies could hold 49 percent of any venture while financing exploration in full.

Japan may consider participating in a plan to build an oil-product pipeline from Rosneft's Komsomolsk refinery to the De Kastri port on the Pacific coast in exchange for stakes in oil production projects, one of the people said.

A planned petrochemical plant in the Russian Far East will also be discussed.

(Bloomberg)

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