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  • Rosneft and CUPET Enter into a Brownfield Cooperation Contract
    édité le 21/12/2016 - Plus de news de "Rosneft" - Voir la fiche entreprise de "Rosneft"

Rosneft and CUPET Enter into a Brownfield Cooperation Contract
RN-Exploration (Rosneft Group Subsidiary) and Union CubaPetroleo (CUPET), the state-run oil company of the Republic of Cuba, have entered into a contract for enhancing oil production at Varadero - East Central Block. The document was signed Rosneft Chief Executive Officer Igor Sechin and CUPET General Director Juan Torres Naranjo.

In accordance with the document, the parties shall jointly review the development and operation conditions of Varadero - East Central Block field to identify opportunities for enhancing well stock operation efficiency and executing wellwork activities targeting enhanced oil recovery.

The contract was concluded in furtherance of the Cooperation Agreement which the parties signed during the visit of the Russian President Vladimir Putin to Cuba in July 2014.

Rosneft’s participation in energy related projects in Cuba is a constituent part of the regional strategy of the Company in Latin America. Its implementation will provide synergies with current perspective projects in Venezuela, where Rosneft is one of country’s the top performer, and its operations in the Solimoes basin in Brazil.

About Rosneft and CUPET

Union CubaPetroleo is a Cuban state-run oil company. CUPET priorities include exploration and development of new oil fields offshore Cuba, production increase at existing fields, rehabilitation of suspended wells, and increase in refining capacity.

Cuba's proven recoverable oil reserves make 125 mln barrels, 35 oil fields were discovered. Most of the reserves are located offshore. According to CUPET, oil reserves offshore Cuba amount to about 20 bln barrels. United States Geological Survey estimates oil reserves at 5 billion barrels. Gas reserves make 10 to 21 trln cubic feet.

In July 2014, the parties signed a Cooperation Agreement in Havana in the presence of the RF President Vladimir Putin and the President of the Council of State of Cuba Raul Castro.

Following the international cooperation tripartite agreement, Rosneft has been rendering support in providing education to Cuba Petroleо engineers at Gubkin State University of Oil and Gas under master's programs "Oil and Gas Engineering" and "Chemical Technologies". Besides, master's engineers have an opportunity of taking internship at the Company production facilities and becoming familiar with the modern oil and gas production technologies.

About Rosneft

Rosneft is the leader of Russia’s petroleum industry and the world’s largest public oil and gas company by liquid hydrocarbon production and reserves. The Company’s core operations are in hydrocarbon exploration and appraisal, production of oil, gas and gas condensate, offshore developments, refining, marketing of oil, gas and oil products inside and outside Russia, and investment activity.

Rosneft’s exploration and production geography spans across all key oil and gas provinces in Russia, namely Western Siberia, Southern and Central Russia, Timano-Pechora, Eastern Siberia and the Far East. The Company also implements projects in Kazakhstan, Algeria, Venezuela, Brazil, Vietnam, the UAE, Canada, and in the Gulf of Mexico. Offshore projects, including in the Arctic, take a special place in Rosneft’s portfolio. Rosneft has joined forces with ExxonMobil, Eni and Statoil to develop Russia’s offshore resources.

Origine : Communiqué Rosneft

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