Russian Prime Minister signs order to transfer 12 Russian offshore acreages to Rosneft

Russian Prime Minister signs order to transfer 12 Russian offshore acreages to Rosneft

MOSCOW -- Russian Prime Minister Dmitry Medvedev has signed an order transferring the rights to develop 12 acreages on the Russian continental shelf to Rosneft.

The order gives Rosneft the right to use 12 subsoil acreages located in the Barents Sea (Severo-Pomorsky-1, Yuzhno-Prinovozemelsky, Zapadno-Prinovozemelsky, Zapadno-Matveevsky and Russky), Kara Sea (Severo-Karsky), Chukchi Sea (Yuzhno-Chukotsky, Severo-Vrangelevsky-1 and Severo-Vrangelevsky-2) and Laptev Sea (Ust-Lensky, Ust-Olensky and Anisinsko-Novosibirsk).

The order was signed on January 31 and has been posted on the government's website.

The document was prepared in accordance with the Russian law On Subsoil Resources and taking into account Rosneft's extensive experience developing fields on the Russian continental shelf, notes to the order read.

"This order was signed to attract investment in geological exploration projects at acreages on Russia's continental shelf," order notes read.