Rosneft to discuss shelf cooperation with Japanese companies

Rosneft President Igor Sechin plans to hold talks with Japanese companies on their participation in development projects on the Russian shelf, a source familiar with the talks told Interfax.

"Japan is the next country the Rosneft president will visit. The main theme of the talks with Japanese companies is their participation in large-scale shelf projects," the source said.

Rosneft has licenses to new sections on which it so far has no agreements with foreign companies, such as Magadan-2 and -3 on the Sea of Okhotsk shelf. The geological resource at Magadan-2 is estimated at 263 million tonnes of oil, of which 78.9 million tonnes are recoverable. The gas resource amounts to 261.2 billion cubic meters. At Magadan-3, the geological resource is 103.5 million tonnes, of which 31 million tonnes is recoverable, and 105.5 bcm of gas.

"Rosneft discussed joint operations with Japanese companies on the Sea of Okhotsk shelf in 2010-2011 at the Lisyansky, Kashevarovsky and Magadan-1, -2 and -3 sections, as well as the Perseevsky section in the Barents Sea.

Rosneft has also proposed that Japanese companies consider opportunities to participate in developing six oil and gas sections in Irkutsk region. Rosneft has also invited Mitsui and Marubeni to take part in building a petrochemical complex in Russia's Far Eastern port of Nakhodka.

Sechin has already held talks with South Korean companies on liquefied gas projects and with Chinese companies on the issue of implementing joint projects on the Barents Sea and Pechora Sea shelves.

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