Russian state-run oil major Rosneft does not rule out cooperation with BP on the Arctic shelf despite the collapse this week of its $16 billion share swap and shelf development deal, Rosneft acting Board Chairman Alexander Nekipelov said on Friday.
"Rosneft will not fall into the same trap a second time. It is obvious that BP has problems, which the company should solve on its own. If BP resolves its problems or another form is found, Rosneft is not rejecting anything," Nekipelov said.
In January, Rosneft and BP agreed on a share swap in which Rosneft was to exchange 9.5 percent of its stock for 5 percent in BP. The deal also included plans to jointly develop oil production in the Russian Arctic.
But the deal was blocked by a court injunction following legal action by AAR, a consortium representing BP's partners in local TNK-BP venture. It said BP had violated a BP-AAR shareholder agreement which obliged BP to ask for TNK-BP's approval before BP could get involved in any Russian project.
The deadline to finalize the agreement expired on Tuesday, while on Wednesday Rosneft said it had received new proposals from BP that go beyond the expired deal.
Igor Sechin, deputy prime minister in charge of energy, has said a new round of talks was needed to discuss new suggestions, although Rosneft was running the risk of missing the deadline of licenses to develop shelf deposits.
MOSCOW, May 20 (RIA Novosti)
