Wednesday, May 19, 2010

UAE Crescent, Russia Rosneft team up for energy JVs

DUBAI: The UAE's Crescent Petroleum has teamed up with Russia's state-run oil producer Rosneft to purse oil and gas deals in the Middle East and
North Africa, Crescent said in a statement on Wednesday.

The two would initially focus on opportunities in natural gas in the Gulf, said Crescent Petroleum Executive Director Badr Jafar. "We have already identified a number of robust opportunities, and we expect to be able to announce our first joint project in the Gulf Cooperation Council (GCC) region within the coming weeks," he told in a written statement.

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