Russia’s Rosneft, Petrobras, HRT sign gas memorandum of intent

BRASILIA, Jul 15 (PRIME) -- Russian oil major Rosneft signed a memorandum of intent with Brazilian oil companies Petrobras and HRT on monetizing gas from the Solimoes field on Monday.

Rosneft CEO Igor Sechin said the company has several options to monetize the gas.

“We will produce gas, but we have to sell it. Petrobras has a gas transportation system that can be accessed. We will discuss these questions,” he said.

Brazil’s National Agency of Petroleum, Natural Gas and Biofuels has approved the purchase by Rosneft Brasil, an affiliate of the oil major, of a 6% stake in the Solimoes field, raising its stake to 51%. The deal must be closed within 30 days after the approval.

Rosneft will also purchase four mobile drilling units from HRT.

The volume of the deals amounts to U.S.$96 million.

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