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Rosneft, Crescent Petroleum JV to invest in Sharjah
23 August 2010: Rosneft is likely to invest $630 million (approx Rs 2,898 crore) in a JV with the UAE's Crescent Petroleum to drill for gas in Sharjah in the UAE.
Rosneft joined Crescent in a gas concession in May in Sharjah and will hold 49 per cent of the project. Sechin, who chairs Rosneft's board, said the partners aimed to start production in 2013 at the field, which is estimated to contain 70 billion cubic mtrs of gas and 16 million metric tonne of gas condensate.
Source: Ameinfo