Rosneft, BP to develop Russian gas field

Rosneft and BP will jointly develop oil and gas resources on two licenses in the Yamalo-Nenets Autonomous District of northern Russia encompassing giant Kharampurskoye natural gas and condensate field.

The Russian company will hold 51% interest in the project, and BP will hold 41%.

The companies will develop conventional gas reserves in Cenomanian strata and conduct pilot production and subsequent development of tight Turonian formations. They’ll also optimize oil production.