RusEnergy

23.11.2006 14:01 [Neftegaz.ru] - Rosneft and BP have signed shareholder agreements with regard to the Sakhalin-4 and Sakhalin-5 projects, Rosneft's press office has reported. The shares of Rosneft and BP in these projects are 51 and 49 percent respectively. The projects would be operated by Elvari Neftegaz, a joint venture set up in Sakhalin in 2003. It is presumed, that BP will finance exploration on Sakhalin-4 fields until they are put into production. Rosneft will compensate BP for the expenses with its share in the revenue. The press office also noted that creation of a joint infrastructure for oil production and transportation will help bring down capital costs.