Russia Oil and Gas, Jogmec
Gazprom Neft and Jogmec (Japan) have signed a memorandum of understanding on the issues of cooperation in the projects of geological exploration and extraction of hydrocarbons in Russia.
According to the reached agreements, the companies will expand cooperation in the issues of improving of oil extraction technologies, and will discuss joint programs of personnel training.
Gazprom Neft successfully cooperates with Jogmec since 2012. Within that time the companies have made a significant progress in the perfection of the system of cooperation and information exchange. Developing the previously signed agreement, the parties will go on joint work by the wide range of projects.
Rosneft has decided to cooperate with the Japanese on the shelf of Magadan and East Siberia after a conflict with its Chinese partners. According to the local media, the Russian oil company will give up to 49% to a consortium of Japanese investors in the JV on exploration and development. The Inpex Corp., Japan Oil, Gas and Metals National Corp. (JOGMEC) and oil traders might join the consortium.