Rosneft, Socar to jointly develop oil and gas resources
BY JAMES MARSON
MOSCOW -- Russian state oil giant OAO Rosneft has signed a cooperation deal to jointly develop oil and gas resources with Azerbaijan' s state energy firm Socar, Rosneft said in a statement Tuesday.
Rosneft and Socar will create joint ventures to explore and develop resources in various countries, including Russia and Azerbaijan, Rosneft said.
The deal was signed Tuesday in Azerbaijan' s capital Baku by Rosneft Chief Executive Officer Igor Sechin and Socar' s CEO Rovnag Abdullayev.
The companies also agreed to cooperate on marketing and sales of hydrocarbons and oil products and joint use of infrastructure, Rosneft said.
Dow Jones Newswires