St Petersburg, Russia (mnr.krg.org) – The Kurdistan Regional Government (KRG) and Russia’s oil major Rosneft today in St Petersburg signed agreements on increasing cooperation in the oil and gas sector. The agreements will strengthen the existing relationship between the two sides, which started in February 2017 when Rosneft began purchasing KRG’s crude oil for its international refineries.
With KRG Prime Minister Nechirvan Barzani and Deputy Prime Minister Qubad Talabani in attendance, the series of agreements was signed by Rosneft’s Chief Executive Officer Mr Igor Sechin and KRG Minister of Natural Resources Dr. Ashti Hawrami, at the 21st St Petersburg International Economic Forum.
Regarding the Kurdistan Region’s relations with the Russian Federation, Prime Minister Barzani said, “We have long historic relations with Russia and for us this is an opportunity again in St Petersburg to expand the relationship in all fields – in the energy sector, politically and economically.”
Minister Hawrami said, “The KRG welcomes these agreements which build on the mutually beneficial relationship established with Rosneft earlier this year, and we look forward to increased cooperation. “
The agreements include cooperation in the entire hydrocarbons production chain, from exploration and production to commerce and logistics, and will help the Kurdistan Region to further develop our oil and gas industry.