Oranto to collaborate with Russia’s Rosneft for 21 African oil assets

rosneftAfrica-focused oil and gas company Oranto Petroleum is planning to collaborate with Rosneft, Russian integrated energy company, to explore and develop about 21 oil and gas fields throughout Africa

This was reported by a senior official from Oranto to S&P Global Platts during an International Economic Forum in St. Petersburg on 24 May 2018.

As reported by the source, Oranto is set to sign a MoU agreement with Rosneft about the implementation of the wide-reaching oil and gas projects across Africa.

Speaking to the source, an Oranto official said that by collaborating with Rosneft, Africa’s leading oil and gas company is planning to rapidly transform the oil and gas scenarios in the continent, including upstream, midstream and downstream sectors.

The move is one of the biggest for Russia’s largest oil producer in its Africa investment, in compliance with the Rosneft’s ambitious aim to expand more footprints in Africa’s oil and gas industry. Through getting access to more number of oil and gas projects in Africa, Rosneft further aims to enlarge its international portfolio.

With Rosneft’s latest oil and gas technology, the company is confident that it will be successful in its Africa operations, thus contributing to the continent’s sustainable development agenda.

Rosneft has significant stakes in Africa’s oil and gas projects. Last year, Eni sold its 30 per cent share in the Shorouk concession, where the Zohr gas field is located, in North Africa. In addition, the company is responsible for lifting oil from Libya’s concession, in partnership with National Oil Corp of Libya.

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