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Development of cooperation between Rosneft and Japanese partners

07 May 2016

Rosneft Chairman of the Management Board Igor Sechin took part in extend format meeting of Russian president Vladimir Putin and Japanese Prime Minister Shinzo Abe during which a wide range of issues concerning further development of Russian-Japanese business cooperation was discussed.

Rosneft’s participation in the meeting is stipulated by successful record of cooperation with Japanese partners in joint projects. At the moment about 1/3 of all oil export from Russia to Japan is supplied by Rosneft. The importance of progress in oil supplies to Japan was emphasized: from spot transactions to supplies guaranteed by long-term contracts (based on effective practice of Rosneft’s cooperation with JX Nippon). It will help to increase economic efficiency of partnership and to secure Japan’s energy security.

Since 2004 Rosneft is well experienced in work with Japanese banks (Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ and Mizuho Bank). During 2011-2016 banks have been providing funds for the company in the amount of $3.1 bln under existing consortium loans.

The prospects of collaboration were noted in the area of advanced technologies appliance in oil and gas production and refining, participation of Japanese companies in Rosneft’s upstream projects, engagement in creation and development of “Zvezda” shipbuilding complex.

Note for editors:

Rosneft has long experience of cooperation with Japanese partners. In 1996 the company engaged pool of foreign companies, including SODECO, which shareholders are the government of Japan, Japex, Itochu, Marubeni, Inpex, in the “Sakhalin-1” project.

Following the results of 2015 Russia became the third supplier of oil for Japan (volume – 14.4 mln mt). In 2015 Rosneft supplied 4.4 mln mt of oil to Japan.

Japan Drilling Company carries out drilling of two exploration wells in Vietnam for Rosneft Vietnam (100% subsidiary of Rosneft).

Rosneft Information Division
tel.: + 7 (499) 517-88-97
May 7, 2016

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.