Russia’s national oil company Rosneft, in a consortium with the American firm ExxonMobil, intends to commence exploration work in the offshore zone of Mozambique in the second half of 2017.
Russia'a Rosneft stated that gas production in Zohr field will start by the end of 2017. Zohr is considered to be the hugest natural gas field ever found in the Mediterranean Sea as it has estimated 850bcm of gas.
A trading unit of Russia's largest oil producer Rosneft Trading SA (RTSA) has signed a deal to supply 10 liquefied natural gas (LNG) cargoes to the Egyptian Natural Gas Holding Company (EGAS) in 2017.
Iraq's Kurdistan has increased the loans guaranteed by future oil sales to $3b in new deals with trading houses and Russian state oil firm Rosneft aimed at strengthening its fiscal position.
Rosneft group started drilling of the first exploration well at Block 12 in the Republic of Iraq. The company plans to complete drilling the Salman-1 well in July 2017.
Russian oil major Rosneft has concluded a deal with a company linked to Qatar and commodities trader Glencore to supply up to 55m tons of crude in total over a 5-year period.
Russian Rosneft may soon withdraw from its only project in Algeria, an exploration project which Russia’s oil giant considers to have doubtful prospects.