BP Hopes to Gain Arctic Reserves in Deal With Rosneft

BP is looking to book oil and gas reserves in the deal with Russia's Rosneft, head of BP's Russian operation Jeremy Huck told Reuters.
BP and state-controlled Rosneft agreed Friday to an equity share swap under which they plan to jointly explore for offshore oil and gas. The deal gives the British firm access to areas of the Arctic previously reserved for Russian oil companies.
"We believe that BP will be able to book reserves, and so the structure that we will ultimately build will enable that," Huck said Tuesday.
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Source: The Moscow Times