Rosneft to Pay $52 Million for Sakhalin Deposit, Interfax Says (Bloomberg)

From: Bloomberg

OAO Rosneft, Russia’s largest oil producer, will pay 1.61 billion rubles ($52 million) for the license to an area off the coast of Russia’s far eastern Sakhalin Island, Interfax said, citing a document from Russia’s subsoil agency.

The area contains the northern tip of the Chayvo field, which Rosneft is helping develop as part of the Sakhalin-1 project led by Exxon Mobil Corp. (XOM), the news service said.

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