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Chevron to acquire about 1/3 in joint project with Rosneft

July 08/2010

(Vedomosti) Ц Chevron will acquire about 30% in the joint project on Western Black Sea shelf developing with Rosneft, said the source close to the Russian company. Investments into geological survey are going to amount to $1 bln. The first stage of the project will be financed by Chevron, said Igor Sechin, Russian Deputy Prime Minister. If the prospecting is successfull, total expenses might exceed RUB 1 trillion ($ 32 bln. according to the current Central Bank exchange rate).

Chevron to acquire about 1/3 from join project with Rosneft
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