Russian oil giant OAO Rosneft (ROSN.RS) said Monday it had signed an
agreement with
Italy
's Eni
SpA (E) to finance exploration at three offshore fields, advancing a
cooperation deal signed in April.
Eni will finance geological works at the two fields in the
Arctic
and
one in the
Black Sea
, the statement said. Eni's
investment will be returned from the project's cash flows once production is
launched.
State-owned Rosneft, the country's top oil producer, has signed a number of
deals with foreign firms in recent months, including Exxon Mobil Corp. (XOM) and Statoil ASA (STO),
as well as Eni.