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Report: Rosneft CEO seeks Japanese companies to invest in $157B Vostok project

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Report: Rosneft CEO seeks Japanese companies to invest in $157B Vostok project

Public Joint Stock Company Rosneft Oil Co. CEO Igor Sechin met with officials of Japanese companies in a bid to seek investments for the company's $157 billion Vostok oil project, Reuters reported, citing unnamed sources.

The CEO reportedly briefed officials from companies including Mitsubishi Corp., Inpex Corp., Mitsui & Co. Ltd., Itochu Corp., Japan Petroleum Exploration Company Ltd (Japex) and Marubeni Corp.

Sources told Reuters that Rosneft wants the Japanese companies to take between 10% and 40% of the project.

Sechin is also considering seeking investors in China and India, according to the report.

The Vostok project includes the construction of pipelines, roads, a seaport and other infrastructure.

Vostok Oil was created to combine Rosneft's projects in northern Russia, including the Lodochnoye, Tagulskoye and Suzunskoye oilfields.