Rosneft to postpone Black Sea drilling from 2012 to 2017

Rosneft proposes postponing of Black Sea drilling from 2012 to 2017, the company’s president Eduard Khudaynatov said, Interfax-South reports.

He clarified that the company requested changes to the license on drilling at Tuapsinsky Izgib and Val Shatskogo.

Khudaynatov underlined that the company plans only exploration. He said that there are disagreements between Russian experts of the company and Chevron (USA).

Rosneft and Chevron signed a deal on development of Val Shatskogo in summer 2010. About $1 billion will be invested in geological explorations at the first stage and 1 billion rubles if extraction starts.

Rosneft and Exxon Mobil (USA) signed a deal on joint exploration of the Black Sea shelf in January 2011. This includes geological exploration and development of the Tuapsinsky Izgib. A detailed project on the deal is expected to be ready by the end of 2012.