Rosneft President, Chairman of the Management Board Igor Sechin and Chairman of the Mubadala Petroleum Board of Directors and UAE Energy Minister H.E. Suhail bin Mohammed Faraj Faris Al Mazrouei in course of StPetersburg International Economic Forum have concluded a strategic cooperation agreement to foster greater co-operation between the two companies in the exploration and production sector.
The signature ceremony was led by President of the Russian Federation Vladimir Putin.
The non-binding agreement provides for potential participation of Mubadala Petroleum in the development of Rosneft assets in Eastern Siberia and Rosneft participation in international projects carried out by Mubadala Petroleum.
Notes for Editors
Mubadala Petroleum is an international, upstream oil and gas exploration and production company based in Abu Dhabi (UAE). Established as a wholly-owned subsidiary of Mubadala Development Company in June 2012, Mubadala Petroleum was created to focus on oil and gas activities including management of the existing oil and gas assets of MDC.
Mubadala Petroleum manages assets and operations spanning 12 countries with primarily on the Middle East, Africa, Central and Southeast Asia and its working interest production in 2013 was approximately 387,000 barrels of oil equivalent per day.