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Rosneft, HRT and Petrobras Agreed to Study the Possibility of Gas Monetization in the Solimões Basin

14 July 2014

Rosneft President, Chairman of the Managing Board Igor Sechin, HRT CEO Milton Franke and Petrobras Director of Gas and Energy Jose Alcides Santoro Martins signed a Memorandum of Understanding on cooperation to study development schemes for a joint monetization of gas in the Solimões Project in the Amazon region.

The signing ceremony was led by the President of the Russian Federation Vladimir Putin and the President of Brazil Dilma Rousseff.

The Memorandum envisages detailed analysis of options for monetization of gas held in the Solimões basin, creation of a joint Work Group and preparation of roadmap for progressing the study.

Notes for Editors:

Rosneft subsidiary Rosneft Brasil signed in March 2014 with HRT O&G definitive agreements for the acquisition of additional 6% participating interest in the Concession Contracts BT-SOL-4 and BT-SOL-4A for the exploration, development and production of hydrocarbons in the Solimões Basin, Amazon State. As a result of such acquisition, Rosneft Brasil will have 51% participating interest and receives operatorship in the joint venture held with HRT O&G, which will continue exploration activities in the Solimões Basin. As part of the abovementioned deal, Rosneft also acquired four heli-transportable rigs from HRT O&G.

Rosneft Information Division
Tel.: +7 (499) 517 88 97
www.rosneft.com
July 14, 2014

 

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.