Rosneft Signs Off-Shore License Agreement With Venezuela State Oil Company
December 18 2017 - 7:52AM
Dow Jones News
By Carlo Martuscelli
Rosneft Oil Co. (ROSN.MZ) said Saturday that it has signed an
agreement with Petroleos de Venezuela SA (PVZ.YY) for the
development of two gas fields offshore the South American
country.
The agreement was signed on Dec. 16 at a meeting attended by the
president of Venezuela, Nicolas Maduro. Under the terms of the
deal, Rosneft has been granted a license for the development of the
fields for a period of 30 years.
The Russian gas company will be the operator of the projects,
and is entitled to export all the gas that is produced at the
sites. Rosneft said that it is aiming to produce 6.5 billion cubic
meters of gas per year for 15 years.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
December 18, 2017 07:37 ET (12:37 GMT)
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