Rosneft to Buy Majority Stake in PetroResurs

Russia’s Rosneft signed heads of agreements on a 51% stake acquisition of PetroResurs from Sweden’s Lundin Petroleum.

“The agreements reached will enable the parties to realize the full potential of this promising asset. We hope to continue fruitful cooperation with Lundin on other projects in the future,” said Igor Sechin, Rosneft President and Chairman of the Management Board. 

At the moment, PetroResurs is owned 70% by Lundin Petroleum and 30% by Cyprus-based Gunvor Group.

PetroResurs holds exploration license for Lagansky offshore block in the North-Eastern part of the Caspian Sea, Russia.