BP quits development of 2 oil fields in Yakutia with Rosneft

MOSCOW, May 4 (PRIME) -- U.K. oil producer BP has quit development the Srednelenskoye and Olekminskoye deposits in the Yakutia republic in the framework of its joint venture with Rosneft, Srednelenskoye said in a report Tuesday.

The joint venture with Rosneft Yermak Neftegaz owns Srednelenskoye, which holds the licenses for the two fields.

In accordance with the shareholder and operating agreements, Rosneft will purchase a 100% stake of Yermak Neftegaz in Srednelenskoye in 2021.

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