Support The Moscow Times!

Offshore Oil Talks Abound

Rosneft is in talks with Italy's Eni to jointly develop the Black Sea Val Shatskogo deposit, Kommersant reported Tuesday.

The newspaper cited a letter from Deputy Prime Minister Igor Sechin to President-elect Vladimir Putin that outlined the talks.

Kommersant cited other government sources as saying talks are also underway with Chinese companies and Norway's Statoil over joint work offshore. Putin, who returns to the Kremlin on May 7 after winning a March 4 election, has pledged various tax-relief measures for offshore development. Russia's offshore oil and gas reserves are estimated at 100 billion tons of oil equivalents.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.