Rosneft and LUKOIL signed a deal on long-term cooperation. The companies will establish joint working groups by 15 May to determine a list of projects, with ratings of their efficiency and development of cooperation mechanisms by 1 August, RIA Novosti reports.
The document was signed by head of Rosneft, Eduard Khudaynatov, and President of LUKOIL, Vagit Alekperov.
The sides agreed to combine efforts in geological explorations and extraction and transport of hydro carbons in the Nenetsky Autonomous District.
They also agreed to develop the national market of oil products and petrochemical gas processing and their development abroad.
Rosneft and LUKOIL plan to use logistical infrastructure, development and realization of projects in transport infrastructure for oil products. They plan to construct a product pipeline to connect the Moscow pipeline with the South project.
Khudaytanov added that Rosneft has the Naulskoye, Laganskoye and other oil fields in the Nenetsky Autonomous District with approximately 200 million tons of oil reserves. LUKOIL owns some areas in the region too.
