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Rosneft signs cooperation agreement with Sakhalin region

SAKHALIN OBLAST -- Rosneft President Igor Sechin and Sakhalin Region Governor Alexander Khoroshavin have signed an agreement as part of the APEC Summit on the company’s cooperation with the region. The agreement envisages the implementation of projects to develop Sakhalin’s hydrocarbon deposits.

The parties reached agreements on the creation of favorable conditions for the geological study of the island’s deposits, boosting the efficiency of prospecting and oil and gas field exploration and improving oil recovery. The application of innovations and creation of information resources in this domain should help solve resource replacement challenges.

Given the intensity of Rosneft’s production activities on Sakhalin and the company’s important role in forming the region’s budget, the parties agreed to plan and execute joint efforts to implement highly effective projects, stimulate investment activity and attract additional revenue for the region’s budget.

Significant emphasis in the agreement is also placed on supporting the community, creating new jobs and developing sports.

The agreement serves to drive stable economic growth in the region, to improve the investment climate for the company and to tackle the Sakhalin region’s social challenges.





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