Rosneft, Eni Team Up To Explore Offshore Oil Wells

Law360, New York (July 23, 2012, 1:18 PM EDT) -- Russian petroleum giant Rosneft OAO and Italy's Eni SpA are partnering to split the costs of exploring three promising offshore Russian oil fields, the companies said Monday, on the heels of signing several agreements with each other and other energy giants.

Inking an exploration loan facility agreement, Rosneft unit Val Shatskogo and Eni Energy Russia BV will form joint ventures to finance the exploration of the fields. While Eni will completely cover the minimum geological drilling that's stipulated in license agreements with Russia, state-controlled Rosneft will...
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