OREANDA-NEWS. On November 28, 2006, the heads of Rosneft and Gazprom, Sergei Bogdanchikov and Alexei Miller, signed a bilateral Strategic Cooperation Agreement in Gazprom’s Moscow headquarters.

As agreed, Rosneft and Gazprom will cooperate in exploration for, production, transportation and processing of hydrocarbons; the acquisition and sale of natural and associated gas; the generation and sale of electricity and thermal energy; the manufacture of petroleum field and power-generating equipment; the development of production facilities and infrastructure; research and technology, information, environmental, social and staffing support.

The document states specifically that the parties intend to participate jointly in tenders and auctions for subsoil use rights, and in the implementation of joint projects.

Rosneft and Gazprom will coordinate their actions and exchange geological information on their joint projects when performing exploration and geological prospecting works, and when developing and creating geological and geophysical information databases.

When considering issues of participation in joint projects involving geological prospecting and the development of deposits, the parties will base themselves on an equal distribution of their participatory shares in such projects.