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China and Russia in oil exploration agreement

China's national oil company has signed an oil exploration agreement with Russian state-owned oil company Rosneft, covering the Barents and Pechora Seas. The deal covers explorations in three fields, writes the Barents Observer.

Photo: Marinvest

China has signed an agreement with Russia to explore three oil fields in the Barents Sea and the Pechora Sea. The deal was signed last week during the Chinese president's state visit to Russia.

The agreement covers three structures, the Zapadno-Pronovozemelsky in the Barents Sea, and the Yuzhno-Russky and Medynsko-Varandeysky structures in the Pechora Sea, writes the Barents Observer.

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