Rosneft says in talks on acquiring stake in Norway's North Atlantic Drilling
ST PETERSBURG, Russia, May 24 (Reuters) - Russia's Rosneft is in talks on acquiring a significant stake in North Atlantic Drilling from Norway's Seadrill (Berlin: S9A.BE - news) , the state-run oil company said after signing a partnership agreement with Seadrill on Saturday (Shenzhen: 002291.SZ - news) .
North Atlantic Drilling is a subsidiary of Seadrill, the world's biggest gas and oil rig company.
"The agreement contemplates Rosneft acquiring a significant stake in North Atlantic Drilling Ltd. with the latter entering Russia's onshore drilling market, and signing of long-term contracts for onshore and offshore drilling," Rosneft said in a statement issued during the St Petersburg International Economic Forum.
The partnership agreement signed on Saturday with Seadrill involves developing Rosneft's offshore and onshore projects until at least 2022. Rosneft provided no further details. (Reporting by Alexei Anishchuk; Writing by Lidia Kelly, Editing by Timothy Heritage)