Rosneft, GE to jointly pursue oil, gas in Russia

July 2, 2012

OAO Rosneft and GE have signed a memorandum of understanding to jointly evaluate and develop commercial opportunities in oil and gas exploration and production in Russia.

Paula Dittrick

OAO Rosneft and GE have signed a memorandum of understanding to jointly evaluate and develop commercial opportunities in oil and gas exploration and production in Russia.

The agreement calls for a collaboration in which GE Oil & Gas technologies will be used to help Rosneft improve efficiency and yields. The MOU also calls for the two companies to explore opportunities to jointly develop, manufacture, and sell equipment for use in Russia’s oil and gas industry.

GE and Rosneft plan to form a joint working group to identify short- and long–term opportunities, including equipment for Arctic offshore field development, enhanced oil recovery, and difficult reserve development.

GE Oil & Gas is based in Florence, Italy.

About the Author

Paula Dittrick | Senior Staff Writer

Paula Dittrick has covered oil and gas from Houston for more than 20 years. Starting in May 2007, she developed a health, safety, and environment beat for Oil & Gas Journal. Dittrick is familiar with the industry’s financial aspects. She also monitors issues associated with carbon sequestration and renewable energy.

Dittrick joined OGJ in February 2001. Previously, she worked for Dow Jones and United Press International. She began writing about oil and gas as UPI’s West Texas bureau chief during the 1980s. She earned a Bachelor’s of Science degree in journalism from the University of Nebraska in 1974.