Rosneft reviewing new partners for Arctic: source

17th May 2011, Comments 0 comments

Rosneft is reviewing new Western partners to look for oil in the Russian Arctic after its deal with BP lapsed without an agreement, a source at the state-held company said on Tuesday.

"Various partners have sent us their proposals about entering the Arctic shelf project," an official at the company told AFP.

"We had not reviewed them until now since we still had a deal with BP. But as of today, the company intends to carefully study these proposals," the source said.

Rosneft, before striking its initial agreement with the British giant in mid-January, had also been approached by the US multinational ExxonMobil and the Anglo-Dutch firm Royal Dutch Shell.

The Rosneft official said that the deal with BP had collapsed after local partners in BP's joint venture called TNK-BP had refused several buyout offers.

The deal lapsed at 2300 GMT on Monday, with BP vowing on Tuesday to try and pursue further talks with both TNK-BP and Rosneft.

© 2011 AFP

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