Sunday, May 25, 2014

Rosneft signs flurry of deals in St Petersburg

MOSCOW (Reuters) - Russia's top oil producer Rosneft signed several deals at the St Petersburg International Economic Forum over the weekend, despite sanctions imposed on the company's chief executive Igor Sechin.

Following is a of the agreements provided by Rosneft, the world's top non-listed oil producer:

- Rosneft and BP signed an agreement to tap tight oil in Russia's Volga-Urals region.

- Rosneft and Union Cuba Petroleo (CUPET) signed Memorandum of Cooperation on projects in Cuba.

- Rosneft and United Arab Emirates' Mubadala Petroleum signed a cooperation agreement to "foster greater co-operation between the two companies in exploration and production".

The non-binding agreement provides for potential participation of Mubadala Petroleum in the development of Rosneft assets in eastern Siberia and Rosneft participation's in international projects carried out by Mubadala Petroleum, Rosneft said.

- Rosneft and India's ONGC Videsh Limited signed a Memorandum of Understanding (MOU) for cooperation in exploration, appraisal and hydrocarbon production from Russia's offshore deposits. "The parties will jointly consider forming a consortium led by Rosneft and involving other partners," Rosneft said.

- Rosneft and PetroVietnam Oil Corporation agreed on key terms of long-term oil supplies to Vietnam. The agreement provides supply of the ESPO oil of up to 6 million tonnes a year via Russia's Pacific's Kozmino terminal in 2014-2039.

- Rosneft and Mongolia's NIC LLC signed a five-year oil products supply deal. Rosneft values the deal at $1.3 billion (772.2 million pounds) for supply of more than 1.2 million tonnes of oil products from June 2014 to May 2019.

- Rosneft and Venezuela's PDVSA signed a long-term contract for supplies of crude oil and oil products. The supplies are set at over 1.6 million tonnes of oil and 7.5 million tonnes of oil products within five years. The deal envisages pre-payment of $2 billion.

PDVSA's president Rafael Ramirez said the oil and oil products will be supplied from Venezuela to the international markets.

- Rosneft and Pirelli signed a Memorandum of Understanding to produce and ship synthetic rubber in Russia's far eastern port of Nakhodka. The product will be delivered to Pirelli's own tyre production facilities in the South-Pacific region, Rosneft said.

- Rosneft and Pirelli signed a Memorandum of understanding over marketing projects in Rosneft's retail network.

- Rosneft and Azerbaijan's energy firm SOCAR signed a joint-venture agreement. The agreement provides for oil and gas exploration and production projects including in Azerbaijan and Russia.

- Rosneft is in talks on acquiring a significant stake in North Atlantic Drilling from Norway's Seadrill, the state-run oil company said after signing a partnership agreement with Seadrill. North Atlantic Drilling is a subsidiary of Seadrill, the world's biggest gas and oil rig company.

- Rosneft said it is expanding cooperation in the energy sector with Alstom. It said the memorandum foresees a possibility of installation of different Alstom's "solutions and products for power generation, industrial automation and emission control on Rosneft's facilities."

- Rosneft signed long-term gas supply deal with Fortum[FUMAVO.UL]. The three-year contract is additional to the already operational contract for gas supplies.

- Rosneft signed gas supply deal with RUSAL, EuroSibEnergo and Russian Machines.

(Reporting by Vladimir Soldatkin; Editing by Lidia Kelly and David Evans)

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