Russia, Europe Diversify Assets

The diversification theory well depicts some recent market movements and indications from both Europe and Russia.

On Monday, Moscow-based Rosneft bought assets in Brazil for $96 million, while Milan-based Eni met the new Libyan Prime Minister Abdullah al Thani to strengthen cooperation in the energy sector. 

‘Rosneft announces that its subsidiary Rosneft Brazil today signed final agreements with HRT subsidiary HRT O&G to acquire additional 6% in the Solimoes project. This will lead to Rosneft Brazil receiving 51% control and taking over the operatorship in the joint venture in the Solimoes basin. The companies agreed that Rosneft and HRT will continue exploration activities with respect to Solimoes project and also agreed the sale of four heli-transportable rigs to Rosneft,’ reads a note released by the company led by Igor Sechin.

At the same time, Eni’s CEO Paolo Scaroni went to Tripoli to speak with al Thani.

‘The key issue discussed in the meeting was the importance of maintaining and increasing Eni’s current production levels in Libya, of fundamental importance for the country given that at present the company, jointly with NOC, operates the majority of overall Libyan hydrocarbon production, ensuring the generation of electricity for local use,’ reads the communiqué released by Eni.