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Saturday, 21 August 2010

Rosneft, Crescent Petroleum discuss development of UAE gas field RIA Novosti

State-owned Russian oil company Rosneft and Middle East oil and gas company Crescent Petroleum discussed in Moscow on Saturday the joint development of a gas field in United Arab Emirate Sharjah with expected investment of $630 million, the Russian deputy prime minister said.

Gas reserves in the deposit account for around 70 billion cubic meters and 16 million tons of condensate, said Igor Sechin, who is also chairman of the Rosneft board of directors.

Gas production is expected to begin in 2013, he added."