Eni has pulled out of the project with Rosneft on the shelf of the Black sea

© RIA Novosti / Maxim to Aminopherase in fotomontaggi Rosneft. Archival photoEni has pulled out of the project with Rosneft on the shelf of the Black sea© RIA Novosti / Maxim to Aminopherase the image Bank

Italy’s Eni has pulled out of the project with Rosneft on the shelf of the Black sea, discusses the temporary suspension of projects in the Barents sea, told reporters the officer of the government of the Russian Federation on the eve of the meeting, Prime Minister Dmitry Medvedev and the Prime Minister of Italy, Giuseppe Conte.

«After completing in March 2018 ultra-deepwater drilling the first exploratory well in the license area «West of the black sea area» on the shelf of the Black sea, Eni sold its right to withdraw from the project, which took place in March 2018. In respect of offshore projects in the Barents sea are currently being discussed by the conditions of their temporary suspension», — said the interlocutor of journalists.

He recalled that in June 2013, «Rosneft» together with Eni has embarked on projects to develop deposits on the shelf of the Black («the West black sea area») and Barents sea (areas «Fedynsky» and «Central Barents»).

The company in 2012 agreed to the exploration and development of these sites in the form of joint ventures. Eni received in projects of 33.33%, while under the agreement the Italian company is fully funding exploration prior to the discovery of commercial hydrocarbon reserves.

The newspaper «Kommersant» in may, citing statements of the joint ventures companies wrote that, contrary to the declarations of the parties to U.S. sanctions put into question the capabilities of the Italian Eni to Finance oil projects with Rosneft on the Russian shelf. The two companies then announced that «Rosneft» and Eni remain partners for joint projects.

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