Door still open for BP in Kara Sea
Rosneft says negotiations with BP on developing the Arctic oil fields can continue despite failure to meet Monday’s deadline for reaching agreement to buy out BP’s Russian partners in TNK-BP.
After no deal was made on May 16, Kommersant reported on Wednesday that Rosneft was open to find new foreign strategic partners to develop the huge oil fields in the Kara Sea east of Novaya Zemlya in the Russian Arctic.
BarentsObserver has previously reported that Rosneft could invite more foreigners for cooperation on Russia’s Arctic shelf. New partners could be Shell, ExxonMobil, Chevron or Indian and Chinese oil companies, according to Vedmosti.
The Russian and British oil majors announced in January this year that they have agreed to explore and develop three license blocks in an area in the southern Kara Sea, roughly equivalent in size and prospectivity to the British sector of the North Sea.
The oil fields in question are believed to be some of the largest in the entire circumpolar Arctic offshore area.
In a statement issued Wednesday, Rosneft says new proposals with BP do not require an extension of the agreement beyond May 16, and make it possible to continue discussions on further cooperation beyond the framework of the expired agreements.
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In evaluating these proposals, Rosneft will be guided first and foremost by the interests of its shareholders and the obligations arising from its licenses to develop the Arctic shelf, where the Company is pursuing vigorous work.
Rosneft says in the statement further information on its Arctic shelf development program will be provided in the near future.
