Gazprom And Rosneft To Start Joint Development Of 5 Promising Oil Deposits

Chairman of the Gazprom's board Aleksey Miller and Sergey Bodanchikov, President of the Rosneft oil company, signed an agreement on the joint development of five large oil deposits in the Yamalo-Nenets autonomous region and on the shelf of the Barents Sea today. This information was reported in a joint statement published by the two companies. Rosshelf, a subsidiary of the Russian gas monopolist, and Rosneft's subsidiary Rosneft-Purneftegaz, that own licenses for the development of these five deposits, are going to create a joint venture for the implementation of the agreement. As reported, the total volume of these deposits was estimated at 380 million tons of oil and 4.3 trillion cubic meters of gas.