Rosneft President, Chairman of the Managing Board Igor Sechin, HRT CEO Milton Franke and Petrobras Director of Gas and Energy Jose Alcides Santoro Martins signed a Memorandum of Understanding on cooperation to study development schemes for a joint monetization of gas in the Solimões Project in the Amazon region.

The signing ceremony was led by the President of the Russian Federation Vladimir Putin and the President of Brazil Dilma Rousseff.

The Memorandum envisages detailed analysis of options for monetization of gas held in the Solimões basin, creation of a joint Work Group and preparation of roadmap for progressing the study.

Rosneft subsidiary Rosneft Brasil signed in March 2014 with HRT O&G definitive agreements for the acquisition of additional 6% participating interest in the Concession Contracts BT-SOL-4 and BT-SOL-4A for the exploration, development and production of hydrocarbons in the Solimões Basin, Amazon State. As a result of such acquisition, Rosneft Brasil will have 51% participating interest and receives operatorship in the joint venture held with HRT O&G, which will continue exploration activities in the Solimões Basin. As part of the abovementioned deal, Rosneft also acquired four heli-transportable rigs from HRT O&G.