May 29, 2013 Rosneft 

Rosneft Agree with INPEX on Joint Offshore Operations   協力協定

Rosneft signed a cooperation agreement with INPEX CORPORATION国際石油開発帝石 to jointly explore license offshore blocks Magadan-2 and Magadan-3 in the Russian section of the Sea of Okhotsk. Estimated recoverable resources of the two blocks stand at 1,577 million tonnes of oil equivalent(11.7 billion barrels).

The agreement, signed by Igor Sechin, Rosneft President and Chairman of the Management Board, and Toshiaki Kitamura, President and CEO of INPEX, envisages cooperation between the parties in setting up a joint venture to explore the above-mentioned blocks. INPEX will hold a 33.33% stake in the project.

Pursuant to the final agreements that are expected to be signed till the end of 2013 INPEX will fully finance geological exploration work at these blocks in line with approved programs. It is agreed that INPEX will reimburse the licensed blocks’ development expenses incurred by Rosneft, as well as 33.3% of one-off payment made by the Russian company during the course of license acquisition. Furthermore, the agreement provides for non-recurrent bonuses to be paid by INPEX to Rosneft for each commercial oil and gas discovery proportionally with its stake in the project.

Commenting on the agreement, Rosneft President Igor Sechin said, “Russian Far East one of the key regions of Rosneft operation. Signing the agreement with INPEX – one of the leading Japanese oil and gas companies – once again proves Rosneft’s commitment to developing its business in the region. Partnership between Rosneft and INPEX will contribute significantly not only to the development of the Russian Far East, but also to the development of economic relations between Russia and Japan, and will strengthen energy security of our partners”.

The Magadan-2 and Magadan-3 blocks are located in the northern part of the Sea of Okhotsk. Sea depth is 120 – 180 meters.　28,082km2

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Rosneft has signed similar cooperation agreements with Exxon Mobil Corp, Italy's Eni and Norway's Statoil .

2011/2/5	Rosneft、ExxonMobilとも海底油田開発で合意
2011/9/1	Rosneft、石油開発でExxonMobil と提携

 Eni

April 25, 2012 Rosneft and Eni Join Forces to Explore Fields in the Barents and Black Seas

Rosneft and Eni today signed a Strategic Cooperation Agreement to jointly explore fields in Russian sections of the Black and Barents Seas and exchange technology and staff. The agreement also envisages Rosneft’s participation in Eni’s international projects.

The agreement, signed by Rosneft President Eduard Khudaynatov and Eni CEO Paolo Scaroni, envisages cooperation between the parties to set up a joint venture to explore the Fedynsky and Central Barents fields in the Barents Sea and the Western Chernomorsky field in the Black Sea. Eni will hold 33.33% in the joint project. The agreement stipulates that Eni will finance comprehensive geological exploration work to confirm the commercial value of the fields.

The deposits are estimated to hold total recoverable resources of 36 billion barrels of oil equivalent.

Statoil

The license areas in question are Perseevsky in the Barents Sea and Kashevarovsky, Lisyansky and Magadan 1 in the Sea of Okhotsk.

The agreements were signed in Stavanger by Statoil CEO Helge Lund and Rosneft Chairman and President Igor Sechin. Their signing represents a significant step towards full implementation of the Statoil-Rosneft Cooperation Agreement.

The Shareholder and Operating Agreements are identical for the four license areas. Rosneft will have an equity share of 66.67% in each of the operating joint ventures and Statoil's share will be 33.33%. 

Statoil will fund 100% of costs in the exploration phase, which includes an obligatory work program of six wildcat wells to be drilled during the period 2016-2021.