Riyadh – Mubasher: Bloomberg News Agency on Wednesday said that Saudi Arabia is looking at unprecedented deals to acquire oil and gas assets in Russia, during the visit of the Saudi King, Salman Bin Abdul Aziz, to Moscow, starting Thursday.
KSA is considering investing in Russia’s largest oil drilling contractor, Eurasia Drilling, and Novatek PJSC’s proposed Arctic LNG 2, Bloomberg said, citing sources as saying.
The discussions are at an early stage, however; some framework accords could be signed during King Salman bin Abdulaziz’s trip, sources said.
Saudi Arabian Oil Company, or Saudi Aramco, is expecting to sign a number of Memoranda of Understanding (MoUs) with major Russian companies on energy projects during the King’s visit to Moscow, Bloomberg added, citing a company statement.
Direct Saudi investment in Russian assets would show continued commitment to cooperation between the two energy superpowers as King Salman and Russian President Vladimir Putin prepare for talks that are likely to include whether to extend the pact on oil production limits, the news agency noted.
