Rosneft Signs Deals with GE, Total, Pirelli, BP During St. Petersburg Forum

The second day of the St. Petersburg International Economic Forum witnessed more and more deals, with Russia’s Rosneft taking once more the lion share. 

Among others, Rosneft signed deals with a subsidiary of US-based General Electric, with France’s Total, with Italy’s Pirelli Tyre, and especially with UK-based BP.

‘Rosneft and BP today signed several agreements strengthening the long term strategic relationship between the two companies, at the St. Petersburg International Economic Forum’ reads a note released by Rosneft.

The two companies signed final binding agreements for Rosneft’s sale to BP of a 20% interest in Taas-Yuryakh Neftegazodobycha (Taas). The deal creates a new joint venture in East Siberia. 

‘The venture will further develop the Srednebotuobinskoye oil and gas condensate field which is one of the largest fields in eastern Siberia, currently producing about 20,000 barrels a day. The Taas venture will also undertake the development of suitable infrastructure for further exploration and development of the region’s reserves’ reads the note.