Rome-Trieste, November 26th, 2013 Today in Trieste, Enel CEO and General Manager, Fulvio Conti, and President and Chairman of the Management Board of Rosneft, Igor Sechin, signed a memorandum of understanding to team up in the international upstream hydrocarbons sector.
Under this agreement Enel and Rosneft will partner to identify commercial opportunities and will jointly develop opportunities in the exploration, production and transportation of hydrocarbons outside of Russia. More specifically, the two companies will jointly pursue international expansion opportunities and will establish a cooperation programme by organizing meetings, seminars and workshops for exchanging information on exploration and production activities and on their respective strategies in the upstream sector. Furthermore, the joint Enel/Rosneft working group will analyze opportunities for partnering in the oil and gas upstream sector, particularly in Latin America, Southern Europe and the Mediterranean/North African basin.
As Fulvio Conti, Enel CEO and General Manager, commented Enel has achieved significant expertise in the upstream sector, where it is participating in two major development projects in Algeria and has one of the most important exploration portfolios in Italy. Through this agreement we are strengthening our excellent relationship with Rosneft, one of the largest energy companies in the world, in order to evolve our collaboration on projects in regions that are of shared strategic interest and where Enel has a significant presence, such as Southern Europe and Latin America.
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