Rosneft, BP agree to explore for hard-to-recover oil in Russia
ST PETERSBURG, Russia
ST PETERSBURG, Russia May 24 (Reuters) - Rosneft and BP have signed an agreement to jointly explore for hard-to-recover oil in the Volga-Urals region of central Russia, the state-run Russian oil company said on Saturday.
Rosneft will get 51 percent in a joint venture which will explore the Domanic formation, while BP will hold 49 percent. BP holds an almost 20 percent stake in Rosneft.
Earlier, Rosneft agreed to explore for hard-to-recover oil in Russia with U.S. ExxonMobil and Norwegian Statoil .
(Reporting by Alexei Anishchuk and Katya Golubkova)