Rosneft seeks new hights

In an interview with newspaper Vedomosti today, Rosneft President Sergey Bogdanchikov confirms that his company seeks to become global oil producer number one. The company has already taken over the leading position in Russia from Lukoil.

The country’s northern shelf might become one of Rosneft’s major growth areas. In the newspaper interview, the company leader confirms an interest in the Sakhalin III project, as well as in projects in the Okhotskoe Sea.

Shelf ambitions

Mr. Bogdanchikov does not want to comment much on the reported division of the Russian shelf between Rosneft and Gazprom, saying only that “no concrete negotiations are being held on the issue”.

Previously, however, the Rosneft president has been open about his company’s ambitions on the shelf. As previously reported by BarentsObserver, Gazprom and Rosneft are said to have signed a protocol on the split of offshore hydrocarbon resources in the Russian Arctic

According to the protocol, the two companies, both controlled by the Russian state, will divide the resources according to the type of hydrocarbons and geographic criteria. Rosneft will get the fields with predominantly oil reserves, while Gazprom will get the gas fields. Both companies also have geographic preferences.

Also Russian Minister of Industry Viktor Khristenko has signaled that the two companies will get the exclusive rights over the shelf.

Shelf resources

During the recent Marine Board, a government body working with offshore-related issues, the Rosneft president maintained that Russia by 2050 will invest more than 60 trillion RUB in shelf development, of which 45 trillion will be spent on field development and 16 trillion on exploration.

Read also:

Gazprom and Rosneft split the Russian Arctic 28 May 2008

Russia looks at resources in disputed waters 21 April 2008

Gazprom, Rosneft agreed about split of Arctic shelf 24 January 2008