Company Announcements

Rosneft sells 49% stake in Krasgeonats to Equinor

Source: RNS
RNS Number : 5171I
Rosneft Oil Company
14 December 2020

Rosneft Sells Stake in East Siberian Oil Projects to Equinor

Rosneft Oil Company and Equinor have completed a deal as result of which the Norwegian company acquired a 49% stake in Krasgeonats LLC.

Krasgeonats holds 12 exploration and production licenses for areas with conventional resources located in Eastern Syberia. Among them: Danilovsky (with North-Danilovskoye field), Preobrazhensky, Verkhneichersky, Mogdinsky, East-Sugdinsky, Sanarsky and several other license areas.

The deal is valued approximately at $550 million. According to the agreement, Equinor also undertakes a range of obligations to fund exploration campaigns on the sites subject to the agreement and a number of other payments.

Krasgeonats will continue to develop the North-Danilovskoye field, which is part of the deal. It is expected that the field output will plateau at 2 million tonnes of oil per year in 2024. The other license areas are on exploration and appraisal stage.

As per the arrangements agreed, all assets of Krasgeonats will be subject to the agreement on cooperation in industrial and fire safety, labour protection and environment signed by Rosneft and Equinor in 2018.

Rosneft Information Division

Tel.: + 7 (499) 517-88-97

December 14, 2020

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.