Chinese National Oil Gas Corp. and Rosneft signed memo on the expansion of cooperation in the joint development of the fields located in Eastern Siberia and Far East, the company informed.
They are going to develop several large oil/gas fields in these regions on the basis of JV (51% held by Rosneft).
JV will consider further development of large fields in Siberia and Far East to cover the needs of the regional domestic market and countries of the Asia-Pacific region.
Rosneft (TIN 7706107510) is the largest oil company in Russia. It has 17.618bn barrel of the crude in reserves. The 2011-output reached 2.586mln barrel/day (2.6% in rise).
The share capital is worth 105.981mln rub. split in 10598177810 common
stocks of 0.01 rub. par. The major holder is Rosneftegaz (75.16%).
The 2012-net profit added 7.2% (IAS) to gain 342bn rub. from 319bn rub.
The revenues rose 13.2% to gain 3.078tril rub. from 2.718tril rub.; EBITDA dropped 8% tо 609bn rub. from 662bn rub.; capital expenses coming to 466bn rub.; free money flow - 45bn rub.
The 2012 net profit (RAS) added 27.8% to reach 302.501bn rub.; revenues being up 28.2% to 2.596tril rub. from 2.025bn rub.; pretax profit - 21% to 345.561bn rub. from 285.07bn rub.