Rosneft Brazil and HRT Sign Final Agreements on the Solimoes Project

Rosneft announces that its subsidiary Rosneft Brazil today signed final agreements with HRT subsidiary HRT O&G to acquire additional 6% in the Solimoes project. This will lead to Rosneft Brazil receiving 51% control and taking over the operatorship in the joint venture in the Solimoes basin. The companies agreed that Rosneft and HRT will continue exploration activities with respect to Solimoes project and also agreed the sale of four heli-transportable rigs to Rosneft.

The relevant transaction amounts to $96 mln. The completion of the sale and purchase transaction between the companies shall be subject to the fulfillment of certain conditions, including the approval by the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP). Rosneft will also provide to HRT a loan facility up to $40 mln to finance HRT investments on Solimões for a period of 12 months from the closing date.

The documents were signed in the development of agreements concluded during the visit to Brazil of Igor Sechin on November 22, 2013.

Rosneft Information Division
Tel.: +7 (499) 517 88 97
www.rosneft.com 
March 24, 2014

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