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Rosneft president says open to Sakhalin asset swap with Gazprom

Russian government-controlled oil major Rosneft President Sergei Bogdanchikov said his company was open to swapping oil and gas fields on Sakhalin Island with natural gas giant Gazprom.

Bogdanchikov was speaking Thursday during the Russian-Chinese investment forum being held in Beijing.

However, Bogdanchikov said there was nothing to swap at the present time because Gazprom has no fields on Sakhalin Island. If Gazprom does acquire fields on the island and makes a good offer, Rosneft would agree to a swap, Bogdanchikov added.

Meanwhile, Gazprom's Deputy CEO Alexander Medvedev confirmed Tuesday that Gazprom was interested in participating in the Sakhalin-2 oil and gas project.

Gazprom will resume its talks with Sakhlin-2 project's shareholders on getting a stake in the project once they settle their conflict with the Russian authorities over an increased spending plan and environmental violations, Medvedev said.

The shareholders of the Sakhalin-2 project are Shell Sakhalin Holdings BV, a subsidiary of Royal Dutch/Shell, with a 55% stake; Mitsui Sakhalin Holdings, a subsidiary of Japan's Mitsui, with a 25% stake and Diamond Gas Sakhalin, a subsidiary of Japan's Mitsubishi, with a 20% stake.

The Sakhalin-2 project area is located near Sakhalin Island and has oil reserves of 150 million tonnes and gas reserves of 500 billion cubic meters.

Rosneft has a 20% stake in the Sakhalin-1 project, which involves the development of the Chayvo, Odoptu and Arkutun-Dagi fields. It also holds 49.8% in the Veninsky sector of the Sakhalin-3 project, a 51% stake in the West Schmidt sector of the Sakhalin-4 project, a 51% stake in the East Schmidt sector of the Sakhalin-5 project, and a 51% stake in the Kaygansko-Vasyukansky sector of the Sakhalin-5 project.

© Prime-Tass

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