Rosneft and Kurdistan Regional Government announce the entry of Rosneft into an infrastructure project in the Kurdistan Autonomous Region

Rosneft and Kurdistan Regional Government are continuing to build on agreements they have reached previously.

On the sidelines of the X Eurasian Economic Forum in Verona the parties have announced the start of joint implementation of an infrastructure project for the operation of the oil pipeline in the Kurdish Autonomous Region.

Rosneft’s share in the project may amount to 60%. The other project participant with 40% share will be KAR Group, who is the current pipeline operator.

Rosneft Chief Executive Officer Igor Sechin said: “The entry into the infrastructure project will contribute to achievement of Rosneft’s strategic objectives and will enable Rosneft to enhance the efficiency of oil transportation to the end customers including supplies to the Company’s refineries in Germany”.