Rosneft President Igor Sechin Meets Eni CEO Paolo Scaroni

Rosneft President Igor Sechin and Eni CEO Paolo Scaroni have met in Rome to discuss the progress of joint projects between the two companies offshore Russia in the Black Sea and Barents Sea in the framework of the strategic cooperation agreement signed on 25 April 2012. The executives in charge of the companies’ upstream, downstream and offshore projects and the CEO of Saipem were also present at the meeting.

During the meeting, the parties also discussed the state of the European and global oil and gas market and opportunities for further cooperation between the two companies outside the Russian Federation.


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Notes

As part of the agreement, Eni and Rosneft will form joint ventures (Eni 33.33%, Rosneft 66.67%) for the joint development of the Fedynsky and Central Barents exploration licenses, located offshore Russia in the Barents Sea, and Western Chernomorsky license located offshore Russia in the Black Sea. The offshore blocks are estimated to have vast recoverable oil and gas reserves.

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