Russian Oil: CNPC may get share in the Vankor deposit

Russia is increasingly attracting Chinese investors – a share in the largest producing asset of Rosneft, the Vankorsk cluster, has been proposed to them. According to the Kommersant, soon the Chinese could receive up to 10% of Vankorneft’s shares for $1 billion, but that may be only the first step.

Yesterday, Vladimir Putin, who, together with the Vice Prime Minister of the Chinese State Council Wu Yi Zhang Gaoli officially launched the construction of the Power of Siberia gas pipeline from Russia to China, declared that Rosneft would sell a stake in the Vankorsk cluster to the Chinese. "Mr Sechin (the president of Rosneft Igor Sechin) said that he made ​​you an offer to enter as a shareholder in one of our largest companies in oil production in the north of Russia. The Government will support these plans, we will welcome your participation," - said the President. He stressed that "there are no restrictions for our Chinese friends," although Russia "is very carefully about the admission of foreign partners". Mr. Zhang assured that China would be "a reliable partner".