Media: Rosneft plans to sign contracts with Indian partners for $2.9 billion

NEW DELHI, March 15. /Corr. Eugene Carmalita/. The total volume of contracts “Rosneft” with the Indian partners, which is planned to be signed during his visit to new Delhi the head of the Russian company Igor Sechin, to reach $2.9 billion this was announced by the reputable Indian economic journal Livemint, citing government sources.

“During the two-day visit of the delegation of “Rosneft” it is planned to sign agreements to buy Indian Oil Corporation (IOC), Oil India (OIL) and Bharat PetroResources (BPRL) 30% Deposit in TAAS-yuriakh in Siberia, and the increase in the share of ONGC Videsh in Vankor oil field from 15% to 26%,” – said the source. Appropriate memoranda have already been signed, it remains only to agree on the details”. In his words, “the total value of these transactions is estimated at between $2 billion”.

“In addition, at the meeting of the representatives of the parties on Tuesday, March 15, will discuss the possible purchase of interests in other assets of “Rosneft”, – said the publication of the second government source. – When you are in the market, you’re open to all possible options”. According to him, thus “the estimated total volume of contracts may reach 2.9 billion dollars.” “Memoranda of understanding have already been signed. Left to make decisions on final agreements based on the acceptable for both parties. We hope to reach an agreement,” added the government source.

“TAAS-Yuryakh oil and gas production” is the development of srednebotuobinskoye field in Eastern Siberia. Current recoverable reserves “daughter” of “Rosneft” in C1 + C2 amount to 167 million tons of oil and condensate, and over 180 bn cu m of gas.

“Vankorneft” – a subsidiary of Rosneft is developing the Vankor oil field in Eastern Siberia. Its initial recoverable reserves are estimated at 476 million tons of liquid hydrocarbons and 173 billion cubic meters of gas. The company is also the operator for the development of Boat, Suzunskoye and Tagulskoye fields.