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Roseneft in talks with Mubadala to develop Siberian oil projects

25 Aug 2015

(MENAFN) Russia’s Rosneft, the world’s top listed oil company, is in talks with the UAE’s Mubadala Petroleum to jointly develop two east Siberian projects, Tass Yuriakh and Verkhnechonskoye.

Combined production at both assets stood at around 9 million tons last year, compared to 205 million tonnes for Rosneft in total, according to the Russian Energy Ministry.

Rosneft became the world’s top listed oil firm by output after buying its peer TNK-BP for USD55 billion in 2013. In June, it agreed to sell a 20 percent stake in Tass Yuriakh to its shareholder BP.

The conflict in Syria and countering the radical jihadist group will also be on the agenda when Putin meets King Abdullah of Jordan on Tuesday, the Kremlin said in a separate statement.

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