OREANDA-NEWS. Sergey Bogdanchikov, President of OJSC “Rosneft”, declared addressing to the journalists on the occasion of participation of the delegation of the company in the events on the end of the Year of Russia in China in Beijing that creation of two joint ventures with the Chinese National Petroleum Corporation (CNPC) in the sphere of production and exploration, as well as refining and sales of oil production is now being at the finalizing stage.

“The joint ventures are almost created, the president of “Rosneft” emphasized, and we just have to sign some legal documents. We expect to complete this process till the end of this year,” Sergey Bogdanchikov said.

He has expressed hope for the joint ventures on oil production will “participate in acquisition of licenses for the right of exploration and development, as well as assets with production underway in the next year.”

As to the refining joint venture, according to the president of “Rosneft”, the opportunity of construction of a refinery with capacity of 10 million tons a year is being considered now.