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NK Rosneft' OAO and Socar Sign Agreement on Mutual Deliveries to Create Joint Venture-Interfax


Tuesday, 13 Aug 2013 08:35am EDT 

Interfax reported that NK Rosneft' OAO President Mr. Igor Sechin and State Oil Company of the Azerbaijani Republic (SOCAR) Chief Mr. Rovnag Abdullayev, have signed an agreement on cooperation and the main terms of oil deliveries, an Interfax correspondent reported from the signing ceremony. Russian Energy Minister Mr. Aleksandr Novak told journalists that the agreement covered reciprocal oil deliveries between the two companies. According to a NK Rosneft' OAO statement, the two companies agreed cooperation on oil and gas exploration and production projects in various countries, including their home countries, for which they will form a joint venture in which they will share ownership 50-50. 

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