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BREAKING NEWS

Russia's Gazprom Neft eyes cooperation with Saudi Aramco in hard-to-recover oil

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Russia's Gazprom Neft eyes cooperation with Saudi Aramco in hard-to-recover oil

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MOSCOW (Reuters) – Russia’s Gazprom Neft <SIBN.MM> will jointly work with the world’s largest oil producer Saudi Aramco in hard-to-recover oil production and on a technology known as hydraulic fracturing, Gazprom Neft’s head Alexander Dyukov said on Wednesday. Earlier this month, both companies have signed an agreement on technological cooperation during a state visit to Russia by Saudi King Salman. Dyukov also told reporters that Gazprom Neft expects its borrowings to rise to between 200 billion roubles and 210 billion roubles (£2.6 billion – £2.7 billion) next year without possible new funds for Messoyakha greenfield.

(Reporting by Olesya Astakhova; writing by Vladimir Soldatkin; editing by Polina Devitt)
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