BP CEO: In Talks with Rosneft on Russian Arctic Projects

By Dow Jones Business News,  March 07, 2013, 10:13:00 AM EDT


By James Marson

MOSCOW--BP PLC ( BP ), which is taking a near-20% stake in Russia's OAO Rosneft (ROSN.RS), is in talks with the state- controlled firm on joint offshore projects in the Arctic, BP Chief Executive Bob Dudley said Thursday in an interview with Rossiya-24 television channel.

Rosneft already has partnership agreements with Exxon Mobil Corp. ( XOM ), Italy'sEni SpA ( E ) and Norway'sStatoil ASA ( STO ) to develop Arctic blocks. Rosneft is taking over TNK-BP from BP and its partners in deals worth $55 billion. BP will acquire a 19.8% stake in Rosneft as part of the deal.

Write to James Marson at james.marson@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


  (END) Dow Jones Newswires
  03-07-131013ET
  Copyright (c) 2013 Dow Jones & Company, Inc.

This article appears in: News Headlines

Referenced Stocks: BP, E, STO, XOM



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