Rosneft and Sinopec cooperate as part of Sakhalin-3 and Udmurtneft projects

In the course of negotiations, the parties discussed a wide range of topics on current projects and perspectives for an enhanced cooperation, including possible conclusion of a long-term contract on oil delivery. The company executives noted satisfaction with current cooperation on a number of joint projects.

The companies created three working groups, including cooperation in the region of long-term contracts on hydrocarbons delivery, cooperation in the region of extraction, and implementation of Eastern Petrochemical Company project.

Rosneft and Sinopec cooperate as part of Sakhalin-3 and Udmurtneft projects.

22 October 2013 Rosneft and Sinopec signed a memorandum of conclusion of export contract on a pre-paid basis. The memorandum includes oil delivery up to 100 million tons within 10 years.