STRONG ROSNEFT

Russia's Rosneft strengthened ties with Italian and Chinese partners, closing acquisition with Italy-based Pietro Barbaro S.p.A and signing a contract to increase cooperation with China Oilfield Services Limited (COSL).

'Magadanmorneftegaz, Lisyanskmorneftegaz (joint ventures of Rosneft and Statoil) and China Oilfield Services Limited (COSL) signed a contract to drill two exploration wells in 2016. The wells will be drilled in the Magadan-1 and Lisyansky areas of the Okhotsk Sea' Rosneft wrote on Wednesday.

According to Rosneft, COSL offered its semi-submersible drilling rig Nanhai-9 and won the tender based on a combined score of technical and economic parameters.

On Tuesday, the Russian Joint Venture between Rosneft, Sberbank Investments and Pietro Barbaro S.p.A. closed the acquisition of the Pietro Barbaro Group shipping assets in the Russian Federation (100% share of Prime Shipping group of companies).

'The acquisition of a logistics asset will allow Rosneft to strengthen its positions in the river transportation market and enhance the efficiency of operations, including that in the area of oil and oil products trading, and secure tanker fleet transportation' reads Rosneft's website.

The Barbaro family is one of the few Italian shipowners that have been active for almost two centuries in the shipping industry.

In June, Rosneft signed deals with a subsidiary of US-based General Electric, with France's Total, with Italy's Pirelli Tyre, and especially with UK-based BP.

naturalgaseurope.com

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