Rosneft to Form Venture With Itera, Acquire Gas Assets

OAO Rosneft, Russia’s largest oil producer, agreed to form a venture with OOO Itera to jointly develop natural-gas assets and seek acquisitions.

Rosneft and Itera, a non-state gas explorer, plan to develop deposits with reserves of 600 billion cubic meters, the state-controlled oil producer said today on its website.

The companies will start by developing Itera assets and later add some of Rosneft’s, according to the statement.