Support The Moscow Times!

Rosneft and PetroVietnam to Develop Arctic

Rosneft and PetroVietnam plan to jointly develop offshore oil and gas reserves in two areas of the Pechora Sea in the Arctic.

The two companies struck a preliminary agreement during talks in Moscow earlier this week, Kommersant reported, citing a Rosneft representative. A final deal could be signed next month.

In recent months, Rosneft has already teamed up with ExxonMobil, Statoil, Eni, Inpex Corp and China National Petroleum Corp, or CNPC, to jointly tap reserves in an number of oil and gas fields.

Under the arrangements, Rosneft sets up joint ventures with its foreign partners, who agree to shoulder the costs of geological exploration in return for a 33 percent stake.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

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 you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more