Rosneft looking into expanding Zohr stake - ENTERPRISE

Sunday, 22 October 2017

INVESTMENT WATCH- Rosneft CEO Igor Sechin told reporters the company is considering buying an additional 5% stake in Zohr, Reuters reports. Rosneft recently closed its acquisition of a 30% stake in the gas field — first announced last year — from Eni for USD 1.125 bn. Sechin also added some of the gas produced from Zohr “could be supplied to Europe.”

This comes as EGAS sources say that the field will begin production as early as next month at a daily capacity of 350 mcf, according to Youm7. Production will double to around 700 mcf/d before the end of 1Q2018, the source added.

Rosneft Closes the Deal to Acquire a 30% Stake in Zohr Gas Field - ROSNEFT

09 October

Rosneft closed the deal to acquire a 30% stake in the concessions agreement for the development of Zohr field, the largest gas field in the Mediterranean Sea, from Italian company Eni S.p.A.

The cost of Rosneft stake acquisition is USD 1.125 bln. The Company also refunded its share in past project costs to Eni.

The Company becomes a participant of the project to develop the largest deepwater gas field offshore Egypt jointly with other world majors and strategic partners of Rosneft – Eni (60% stake) and BP (10% stake).

Rosneft takes key step in push into Middle East - FINANCIAL TIMES

APRIL 3, 2017
Henry Foy in Moscow and David Sheppard in Lausanne; Add'l reporting by Anjli Raval

Russian oil group to expand trading after trumpeting agreements in Egypt and Libya

Russia’s Rosneft will this week take custody of its first independently sourced cargo of Kurdish crude oil from Turkey’s port of Ceyhan, a key step in its strategic push into Middle East energy markets and its attempts to expand trading.

The world’s largest listed oil company by output has spent the past four months trumpeting agreements to buy oil from Egypt, Libya and Iraqi Kurdistan, drilling exploration wells in southern Iraq and considering opportunities in Lebanon, as it chases deals to fuel its fledgling international expansion.

Egypt to begin production from Zohr gas field by late 2017: Rosneft CEO - AHRAM ONLINE

Egypt's president Abdel-Fattah El-Sisi during a meeting
with CEOs of Rosneft, Eni, BP

Tuesday 28 Mar 2017
Mahmoud Aziz

The CEO of Rosneft, the majority state-owned Russian oil company, said on Monday that the first gas production from Egypt's super giant Zohr gas field is scheduled by the end of 2017, according to state-run news agency MENA.

Igor Sechin's statement came during a meeting with Egypt's President Abdel Fattah El-Sisi and Prime Minister Sherif Ismail on Monday evening.

Discovered in August 2015 by Italian oil company Eni, Zohr is the largest natural gas field ever found in the Mediterranean, with an estimated 850 billion cubic metres of gas.

Last December, Rosneft agreed to acquire a 30-percent share of the Shorouk concession, which contains the Zohr gas field.

Rosneft To Acquire A Share in the Biggest Gas Field in the Mediterranean Sea - POLYMER UPDATE

15-Dec-2016

Within his working visit to Cairo Rosneft Chief executive officer Igor Sechin was hosted by the President of Egypt Abdel Fattah el-Sisi. Igor Sechin passed along to the Egyptian leader the message from the President of the Russia Vladimir Putin. Sechin and el-Sisi discussed the cooperation between Rosneft and its Egyptian partners and the implementation of joint energy related projects.

The Head of Rosneft informed the President of Egypt about the reached agreement for the Rosneft acquisition of up to 35% in the concession agreement for the development of the Zohr gas field and of a 15% share in the project’s operator the parity joint venture between Eni and EGAS Petroshoruk.

Rosneft’s Board of directors approved the Company’s joining the project. The price of the stake to be purchased is USD 1.125 bln. Moreover Rosneft will reimburse Eni USD 450 mln as its 2016 historical expenses. Overall Rosneft investments in the project will amount USD 4.5 bln in a timeframe of 4 years. Rosneft joins the development of the biggest Egyptian hydrocarbon field together with world majors its long standing partners Eni and BP.

Minister of Petroleum to meet with Rosneft Chief Executive Igor Sechin - ENERGY EGYPT / EGYPT'S MINISTRY OF PETROLEUM

December 12, 2016

Rosneft Chief Executive Igor Sechin arrived yesterday in Cairo to meet today tith Minister of Petroleum and Mineral Resources Tarek El Molla, to discuss existing and potential opportunities in Egypt’s oil and gas exploration.

The board of Russia’s Rosneft plans to discuss buying a stake of up to 35 percent in the Shorouk concession, offshore Egypt, the company said on Last Monday. The concession includes the supergiant Zohr gas field, which was discovered by Eni in August 2015 and is the largest natural gas field ever found in the Mediterranean, with a total potential of 850 billion cubic meters of gas in place.

Rosneft Eyes Cooperation With Qatar in LNG Trade – Company Source - SPUTNIK NEWS

11.12.2016, updated 10:19

Russia’s oil giant Rosneft sees opportunities for cooperation with Qatar in the liquefied natural gas (LNG) trade and logistics, a source in the company told reporters. 

MOSCOW (Sputnik) — Qatar’s Investment Authority (QIA), a sovereign wealth fund, is buying a 19.5-percent stake in Rosneft in a consortium with mining firm Glencore. Separately, Rosneft is mulling buying a stake in Egypt's Zohr gas field. 

"Qatar is the largest LNG producer, Rosneft is about to become a stakeholder in Zohr, so there are opportunities for synergy in terms of logistics and trading," the source said. 

"Glencore will hedge a significant part of its stake, most of it," the source said, adding Glencore and the Qatar Investment Authority had an equity stake in their consortium.