Rosneft and Brazilian Petrobras sign memorandum within the framework of Solimoins project

Rosneft” and the Brazilian Petrobras (Petroleo Brasileiro S.A.) have signed a memorandum of intentions, regarding the variants within the framework of the Solimoins project. The document was signed yesterday in the presence of the presidents of Russia, V.Putin and Brazil, D.Rousseff.

The memorandum considers the detailed development of the options of gas monetization in the basin of Solimoins, the creation of a working group and thepreparation of a road map to carry out research operations.

Rosneft Brazil, a subsidiary of Rosneft, and HRT O&G (subsidiary of HRT), have received an approval from the National agency of Brazil for oil, natural gas and biofuel of the deal on an acquisition of an extra six-percent share package in the project Solimoins by Rosneft Brazil. The size of the deal made up $96 million.

Under the agreement, the deal is to be closed within 30 days after the approval by the regulator, the press-service of the company states.

So, Rosneft Brazil will control 51% in Solimoins project and have the powers of the project operator.

The contracting parties agreed to go ahead with joint exploration in the basin. What is more, Rosneft will purchase 4 mobile drilling units from HRT O&G.