International Oil Companies: Rosneft

Name: Rosneft

Based in: Russia

Rosneft is the leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company. Company’s main activities include prospecting and exploration of hydrocarbon deposits, oil, gas and gas-condensate production, upstream offshore projects, processing, as well as oil, gas, and product marketing in Russia and abroad.

The company’s largest shareholder (50.00000001% of the equity) is JSC ROSNEFTEGAZ, fully owned by the Russian Government, while BP holds 19.75% of shares, QHG Shares Pte. Ltd. holds 19.5% of shares, one share belongs to the state represented by Federal Agency for State Property Management, whereas the remaining shares are free floating.

In late 2016, the company acquired Bashneft, which holds the concession for Block 12.

Fields in Iraq: Block 12

From the company’s website:

Company of Rosneft group acts as the operator of the exploration and development of Block 12. China based company Zhongman Petroleum and Natural Gas Group (ZPEC) is the general drilling contractor .

For latest news on this company’s activities in Iraq please click here.

A full list of International Oil Companies (IOCs) operating in Iraq under licences granted by the Ministry of Oil in Baghdad can be found here.