Royal Dutch Shell has begun talks with Rosneft on “potential exploration” in the Arctic – the week after BP’s flagship deal with the Russian state oil company collapsed.
BP and Rosneft announced a £10bn share swap and Arctic exploration deal at a high-profile ceremony flanked by politicians and dignitaries in January this year. Photo: ALAMY
By Rowena Mason 6:46PM BST 25 May 2011Peter Voser, the chief executive of Shell, was last night in Moscow for meetings with Russian deputy prime minister Igor Sechin, intensifying speculation that Rosneft is prepared to replace BP with another company.
The Russian government said the meeting focused on Shell’s current projects off Sakhalin Island, which may be extended, and the potential development of Arctic oil fields held by Rosneft.
Eduard Khudainatov Rosneft’s chief executive, was also present at the talks, placing Shell in pole position among analysts to become the Kremlin’s new foreign oil partner.