OREANDA-NEWS. October 18, 2012. Rosneft CEO Igor Sechin and Eni CEO Paolo Scaroni have met to discuss the progress of joint projects between the two companies offshore Russia in the Black Sea and Barents Sea, sanctioned in the strategic cooperation agreement signed on 25 April 2012. The executives in charge of the two companies’ upstream, downstream and offshore projects and the CEO of Saipem were also present at the meeting.

As part of the agreement, Eni and Rosneft will form joint ventures (Eni 33.33%, Rosneft 66.67%) for the joint development of the Fedynsky and Tsentralno-Barentsevsky exploration licenses, located offshore Russia in the Barents Sea, and Zapadno-Cernomorsky, located offshore Russia in the Black Sea, areas with great mining potential.

During the meeting, the parties also discussed the state of the European and global oil and gas market and opportunities for further cooperation between the two companies outside the Russian Federation.