Rosneft, CNPC sign documents on joint work

Russia’s oil company Rosneft and China National Petroleum Corporation (CNPC) have signed a number of documents on mutual cooperation on the Russian shelf and in Russia’s onshore territory, Rosneft said in a release. The blocks in question are those located in the Barents and Pechora Seas (West Prinovozemelsky, Yuzhno-Russky and Medynsko-Varandeisky), as well as onshore blocks in the Irkutsk Region, Krasnoyarsk Territory and Nenets Autonomous Area. The parties discussed prospects for implementation of joint projects in seismic studies, exploration and hydrocarbon production and signed a number of documents concerning mutual cooperation. The current cooperation between Rosneft and CNPC is conducted in such spheres the supply of oil under a long-term contract on the purchase and sale of oil; the export of oil, oil products and petrochemicals under tenders; the JV Vostok Energy for the exploration and production of hydrocarbons in the Irkutsk Region, the JV Vostok Petrochemicals for the construction of the Tianjin oil refinery and sale of refined petroleum products in China and on the regional markets (with CNPC).