BP and Russian oil giant reached an agreement to develop a huge area of convertible

 British Petroleum (BP) and Russian state-owned oil giant Rosneft2011 announced on January 14, the two sides exchange agreement has been reached, and to develop the Arctic continental shelf in Russia, with a total area of 125,000 square kilometers of the great waters, The region has the world's largest untapped oil and natural gas resources.

Under the agreement, BP will be 5% of the company's shares (worth 7.8 billion U.S. dollars) in exchange for Rosneft9.5% of the shares. After conversion, the two sides will jointly develop the Arctic Ocean Nankalahai the three licensed zone, the transaction is expected to be completed in a few weeks.

Russian Prime Minister Vladimir Putin in Moscow on 14 announced the agreement, the Deputy Prime Minister and Rosneft chairman Igor Sechin will visit London to attend the ceremony. BP's new chief executive officer (CEO) Dudley described it as

analysts pointed out that Russia is BP's global business operations, an important part of the Gulf of Mexico oil spill in the United States before the incident, about a quarter of the company's crude oil reserves located in Russia. According to reports, the two sides to develop the area's oil reserves may be as high as 51 billion tons, enough to meet global oil demand of more than 4 years, while natural gas reserves of 3 trillion cubic meters. Dudley said, foreign energy companies to Russia's state-owned oil companies has become an important choice.

However, BP and Rosneft deal has caused the United States of unrest. BP is the U.S. military's largest oil supplier in the United States has a number of important oil resources, more than the U.S. Congress are concerned that the Russian state-owned assets of BP shares may threaten U.S. national and economic security.

after the announcement of the transaction, 14, BP at the New York Stock Exchange's stock price rose $ 1.71 to close at $ 49.25, an increase of 3.60%.