The Board of Directors of Rosneft approves the transactions in the framework of the joint projects with Statoil

The Board of Directors of Rosneft approved the transactions in the framework of the joint continental shelf projects with Statoil,the  Russian company reports.

Particularly, the Board approved the provision of the loans to Magadanmorneftegaz S.A.R.L. at the amount of 66.67% of the sum necessary to finance the expenditures for the service assets connected with the development and extraction in the framework of Magadan-1 when the geological exploration is finished. Rosneft will provide the analogous loans to Lisyanskmorneftegaz S.A.R.L. in the framework of Kashevarovsky project and Perseymorneftegaz S.A.R.L. in the framework of the Barents Sea project. The total amount of the transactions (with the interest) won’t exceed 2% of the book value of Rosneft’s assets.