Rosneft may consider buying Lukoil's Venezuela JV stake

MOSCOW Thu Oct 3, 2013 9:22am EDT

An attendant holds a gas pump at a Rosneft petrol station in St.Petersburg October 23, 2012. REUTERS/Alexander Demianchuk

An attendant holds a gas pump at a Rosneft petrol station in St.Petersburg October 23, 2012.

Credit: Reuters/Alexander Demianchuk

MOSCOW (Reuters) - Rosneft (ROSN.MM) may consider acquiring Lukoil's (LKOH.MM) stake in a consortium, which develops heavy oil in Venezuela, Rosneft's head Igor Sechin told reporters on Thursday.

Lukoil, Russia's second-biggest oil producer, has said it wants to sell its stake in a Russian consortium developing a large oil project in Venezuela because it is not a high priority.

"If we see an intention to sell, of course, we will hold talks and work on the possibility of increasing Rosneft's stake," Sechin said.

Lukoil is part of the Junin-6 consortium developing heavy oil in the Orinoco basin. The group is led by state firm Rosneft and also includes Gazprom Neft (SIBN.MM).

(Reporting by Katya Golubkova; writing by Vladimir Soldatkin; editing by Alessandra Prentice)

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