Russia’s Rosneft Sets Sights on Nigerian, African Operations

Russia’s Rosneft appears to have its sights set on Nigeria and Africa. In May, media reports stated that Rosneft would be partnering with a Nigerian company, Oranto Petroleum to develop 21 oil blocks across Africa.

Rosneft Oil Company is a Russian integrated energy company headquartered in the Russian capital of Moscow.

Rosneft doesn’t have a significant presence in Africa except for a 30-percent stake in the giant Zohr gas field offshore Egypt in the Mediterranean, as well as some prospects in Mozambique.

Gaining access to more projects in Africa could be an important development for Rosneft to expand its global footprint, especially since US sanctions on Russia are not seen to be an issue in this region.

 

Source: EnergyMixReport

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