Pertamina to buy stake in Rosneft’s Chayvo field

Pertamina to buy stake in Rosneft's Chayvo field

Russian and Indonesian oil companies Rosneft and Pertamina have signed an agreement for cooperation in offshore fields development.

Under the signed memorandum of understanding, Pertamina will take a stake in the Northern Tip of the Chayvo field, off the coast of Sakhalin, in the Russian Far East.

Pertamina has agreed, in principle, to acquire a 20 percent stake in the project. The companies plan to agree legally binding documents for the transaction. No date has been provided for the expected completion of the acquisition.

Rosneft shipped first oil from the Northern Tip of the Chayvo field back in November 2014. At the time, Rosneft said the field’s oil and condensate reserves stood at over 15 million tonnes, and gas at close to 13 billion cubic meters. In May 2015, Rosneft said the field had produced one-millionth ton of crude oil.

Commenting on the Pertamina agreement, Rosneft said in a statement: “The participation of Pertamina in a production project in the territory of the Russian Federation will strengthen long-term relations between the Russian Federation and Indonesia, and will become a basis for the future implementation of joint projects between the companies in Russia.”

Additionally, Pertamina agreed, subject to legally binding documents to be signed in the near term, to acquire up to a 37.5% in Rosneft’s Ruskoyye onshore field. No commercial details have been revealed.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Offshore Energy Exhibition and Conference (OEEC)

The three-day event features an exhibition where over 600 companies will showcase their products and services…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply