Rosneft enters into Shorouk gas field project in Egypt

Rosneft enters into Shorouk gas field project in Egypt

Russia’s top oil producer Rosneft has entered into the project on the development of Shorouk gas block in the Egyptian offshore area (part of Zohr gas field), Chief Executive Officer Igor Sechin said Monday, adding that the deal had been committed to paper.

“The source of financing will be found taking into consideration the company’s financial responsibility. The deal has been signed, there is a profile of payments and we can say that starting from today we’re participating in the project,” he said.

According to Sechin, Rosneft will also study the proposals made by Egyptian President Abdel Fattah al-Sisi on the company’s potential participation in new projects on the development of offshore and onshore blocks.

“Egypt’s President Abdel Fattah al-Sisi has proposed to consider the company’s participation in the development of other offshore and onshore blocks,” Sechin said, adding that “Rosneft will thoroughly study the proposals.”


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