Rosneft and China National Petroleum Corp. (CNPC) have agreed to expand co-operation in the upstream sector.
Offshore staff
MOSCOW -- Rosneft and China National Petroleum Corp. (CNPC) have agreed to expand co-operation in the upstream sector.
The two companies signed a memorandum in St Petersburg, Russia, under which they will consider purchasing new offshore and onshore blocks through LLC Vostok Energy. The latter is a joint venture owned 51% by Rosneft and 49% by CNPC, which was established to operate upstream assets in Russia.
A working group will be formed to pursue opportunities.
