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Rosneft ready for asset swop in Arctic

MURMANSK: Russian oil major Rosneft is ready to let foreigners into their projected offshore fields in the Arctic. But will demand market shares in the companies’ respective countries in return.

Speaking at the Murmansk Economic Forum yesterday, Rosneft CEO Sergei Bogdanchikov stressed that foreign companies should not be allowed to get license rights to Russian offshore fields in the Arctic. He expressed however openness to let foreigners into the project development, but then only if the markets of the companies’ respective countries are opened for Rosneft. In his presentation, Mr. Bogdanchikov also said that Rosneft intends to acquire the licenses to 30 promising offshore areas in the Russian Arctic. State-owned Rosneft is Russia’s biggest oil company.