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EXCLUSIVE: Rosneft, partners to invest over $8 billion in Russia's offshore energy sector

Reuters  |  MOSCOW 

By Olesya AstakhovaMOSCOW (Reuters) - Rosneft and its partners plan to invest 480 billion roubles ($8.4 billion) in developing Russia's offshore energy industry in the next five years, part of a bid to boost output from new areas, the Russian oil major told Reuters. Most Russian oil output comes from western Siberia, where fields are depleting, pushing firms to look for new regions. Sanctions complicate the process, barring Western firms from helping with Arctic offshore, deepwater and shale oil projects.Russia is producing almost 11 million barrels per day (bpd) of crude, slightly down from ...

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First Published: Wed, June 14 2017. 18:08 IST