The Gazprom Headquarters today has hosted a working meeting between Alexander Ananenkov, Acting Chairman of the Gazprom Management Committee and Sergey Kudryashov, First Vice-President of Rosneft. Also, they both are Co-chairmen of the Coordinating Committee on joint business operation.

The parties discussed the progress with implementing the Agreement on strategic cooperation between Gazprom and Rosneft. Particularly, parties discussed the outlook for bilateral participation in executing oil and gas projects. Within the Agreement the parties drew up special measures on further obligations’ performance by the parties.

Reference:

The Agreement on strategic cooperation between Gazprom and Rosneft was signed on November 28, 2006 for the period up to 2015 with an opportunity of further prolongation for the next five-year periods.

Pursuant to the accords achieved, Rosneft and Gazprom will develop cooperation in the hydrocarbon exploration, production, transportation and processing sectors; natural and associated gas marketing; electric & thermal power generation and marketing; oil & gas field and power equipment production; development of production capacities and industry’s facilities; SHI-tch, information, ecological, social and staffing support.

Particularly, the Agreement specifies the parties are going to participate in competitions and auctions to get the subsurface use right as well as joint projects development. Rosneft and Gazprom will coordinate activities and exchange the geological information on joint projects within the geological and exploration works as well as geological and geophysical information databases development. Gazprom and Rosneft are planning to cooperate in projects for development of gas processing and gas chemical production capacities in Eastern Siberia and the Far East.