Rosneft and BP sign a framework cooperation agreement at the Davos Forum

Rosneft and BP today signed a framework agreement on strategic cooperation during the World Economic Forum in Davos.

This agreement is signed in continuation of Rosneft and BP announcement to form strategic alliance to jointly explore and develop hydrocarbon resources of the Russian Arctic. The document includes several additional initiatives, such as plans for joint projects in international markets, approaches to accelerating technology cooperation and establishment of joint experience-sharing and training programs.

Igor Sechin, Deputy Prime Minister, who attended the signing ceremony, said “Rosneft and BP have already made significant progress - just a two weeks after our signing ceremony in London, the companies define priority areas for cooperation. These joint efforts may establish a solid foundation to contribute to the growth of the entire Russian economy over the next 20 to 30 years. The agreement again confirms our commitment to openness and our vision of the Russian oil and gas sector as a part of a single global energy market.”

Source: Press release