Rosneft to invest $100 mln in Vietnam offshore bloc

Deals

Russian state-run oil giant Rosneft has pledged to invest around $100 million in geological prospecting and drilling off Vietnam after it received approval for a new oil bloc there, RIA Novosti reported on Wednesday citing Rosneft CEO Igor Sechin. The Rosneft head signed a production-sharing agreement for the bloc on Wednesday between TNK Vietnam, a subsidiary of TNK-BP taken over by Rosneft, and Vietnamese state company Petrovietnam. Sechin said geological prospecting for the new block would take about two years but did not specify the amount the company might spend on the whole project.

ADVERTISEMENT

Financial Companies' Earnings Fall in Q1-Q3 Figures

Financial Companies' Earnings Fall in Q1-Q3

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Infomix Becomes Tenant at CityZen Office Market

Infomix Becomes Tenant at CityZen

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.