Rosneft Plans To Double Capitalization Within 2 Years

Rosneft Oil Company plans to increase its capitalization by 2-3 times within two years, Olga Tankova, deputy general director of the Rosneft-Perspektiva company told RBC. Foreign experts currently estimate the company's capitalization at $4 billion. In Tankova's view, an increase in capitalization is a task that many oil companies of Russia are facing. "The higher is the capitalization, the higher is the hypothecation value of a company, and accordingly, its potential for receiving loans and investments," she pointed out. According to Tankova, the Rosneft-Perspektiva company has worked out the main provisions of the Rosneft's Strategic Development Plan for the period until 2020. Selection of priority projects and their assignment to specific years are continuing now. Commenting on the decision by the Russian government to transfer the responsibility for state regulation of product sharing to the Rosneft state company, Tankova said that a specialized department within Rosneft to regulate product sharing agreements is being established now. Thus, it is planned to form a group of managers to supervise specific projects. According to information from Tankova, the Rosneft and Zarubezhneft companies together with the government are now preparing a set of documents specifying the entire mechanism for state regulation of product sharing agreements.