Rosneft ‘eyes Angola entry’

Angola oil23 April 2014, News Wires – Russia’s Rosneft is sizing up a move into the Angolan market with prospective oil and gas basins possibly in the state-controlled giant’s sights.

A delegation from the Moscow-based behemoth met with high-level industry and government personnel in the West African energy powerhouse on Tuesday, Rosneft said on Wednesday.

Company vice president Andrei Shishkin met with Oil Minister Jose Maria Botelho de Vasconcelos and Francisco de Lemos Jose Maria, chairman of Angolan state player Sonangol. Also present was state secretary for energy Joao Baptista Borges.

The parties discussed “potential options” to exploit the country’s exploration and production sector, Rosneft said.

This is the second time in as many days that Rosneft has revealed talks aimed at possibly entering African plays, following a meeting in Moscow with a high-level delegation from Mozambique.

Chairman Igor Sechin met Mozambique’s Minister for Foreign Affairs Oldemiro Julio Marques Baloi on Tuesday where “the parties discussed a wide range of issues”, Rosneft said in a separate statement.

Among the issues discussed was the “possible involvement of Rosneft in production projects” in the East African gas powerhouse.

A statement from Rosneft pointed to the major gas discoveries off Mozambique in recent years, with proved reserves as of the beginning of the year of 1.03 trillion cubic metres.

Although Rosneft pointed to the potential in the Rovuma basin and in basins in the Mozambique river, as well as to current production in the Pande and Temane fields, no details of what projects it may be eyeing were revealed.


– Upstream

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