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Gazprom vs. Rosneft in Far East

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Russian law stipulates that licenses for offshore oil and gas fields may be granted only to companies that are more than 50 percent state-controlled and have at least five years of activity in offshore development. Moscow in 2008 had refused to extend a five-year license to Rosneft to develop fields with the Korea National Oil Corp. on the grounds that Rosneft failed to meet its obligations there. Meanwhile, Gazprom had positioned itself in February to replace Rosneft in the Korean venture as well as other Far East developments. Both companies are competing for development rights in the Far East, the Platts news service reports, though Gazprom has noted most of those reserves are in the form of natural gas. 1

approve a list of offshore oil and gas fields that are to be transferred to state-run companies without auctions, a ministerial official said Friday. Sakhalin 3 and West Kamchatka blocks in Russia's Far East are on the list, which currently comprises more than 10 fields, Khramov said, adding that the list is being finalized at present. The two state-energy giants are competing for the right to develop Far Eastern offshore reserves, with Gazprom arguing that the reserves in the area mainly contain gas. 2
  1. Gazprom vs. Rosneft in Far East (UPI)
  2. Russia to Approve Offshore Fields to Go to State Firms by Summer (Platts)

Read the whole story at Dygest.net

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