BP CEO: in talks with Rosneft on Russian Arctic projects

3/7/2013

BP CEO: in talks with Rosneft on Russian Arctic projects

BY JAMES MARSON

MOSCOW -- BP, which is taking a near-20% stake in Russia's Rosneft, is in talks with the state-controlled firm on joint offshore projects in the Arctic, BP Chief Executive Bob Dudley said Thursday in an interview with Rossiya-24 television channel.

Rosneft already has partnership agreements with ExxonMobil, Italy's Eni and Norway's Statoil to develop Arctic blocks. Rosneft is taking over TNK-BP from BP and its partners in deals worth $55 billion. BP will acquire a 19.8% stake in Rosneft as part of the deal.

Dow Jones Newswires

 

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