Rosneft Buys Caspian Offshore Data

Russian state-run oil giant Rosneft is to pay $1.1mn for seismic data about the Azeri sector of the Caspian Sea, it said October 12.

Rosneft and Azerbaijan’s state-run Socar agreed September 1 to carry out a joint study of the oil and gas potential of the Goshadash block in the northern part of the Absheron Peninsula. This is Rosneft’s first Caspian experience.

Rosneft and Socar Trading also signed a one-year agreement for the supply of 1mn mt of oil to the Socar’s Star refinery in Turkey which is scheduled to start operation on October 19.