April 23, 2013 / 10:37 AM / 5 years ago

Rosneft sees 2013 capex at $20 billion post TNK-BP deal

MOSCOW (Reuters) - Rosneft (ROSN.MM) expects capital expenditure of $20 billion this year following the acquisition of TNK-BP TNBP.MM, Rosneft’s Chief Executive Officer Igor Sechin said on Tuesday.

    The previous guidance for Rosneft’s capex this year was $15 billion, while TNK-BP expected it at to be around $6 billion.

    Sechin told investors during a presentation that the company is able to reduce spending following the deal to acquire TNK-BP.

    Reporting by Vladimir Soldatkin; editing by Megan Davies

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