Rosneft and Gazprom to Cooperate on Offshore Infrastructure

Rosneft and Gazprom will cooperate to create Russian offshore field development infrastructure, furthering exploration in the country, Rosneft has announced.

A statement made on Rosneft's website says that the two companies have signed a cooperation agreement, which will see the pair prepare a plan to practically implement the improved infrastructure.  The agreement was signed by Rosneft President Igor Sechin and Gazprom CEO Alexey Miller at the XI Sochi International Investment Forum. The agreement was witnessed by Russian Prime Minister Dmitry Medvedev.

The plan will particularly take into account environmental protection and the companies' compliance with international law, Rosneft said. Included in this plan will be environmental monitoring and protection, research and development for exploration on the pair's offshore fields, and contingency measures in preparation of potential emergencies. Included in this will be the setting up of joint regional centres to deal with emergencies.

In addition to the environmental monitoring, Gazprom and Rosneft will also work together to explore methods for energy efficiency and to increase the exploration of renewable energy sources.

Rosneft says that the agreement will drive exploration on the Russian Continental Shelf through the combination of both Rosneft and Gazprom's resources. This, it says, will motivate economic growth and increase the efficiency of each's operations.