RIA Novosti citing Mr Sergei Prikhodko Russian presidential aide said Russian energy giant Gazprom will join the Elephant oilfield in Libya in an asset-swap deal with Italian energy company Eni on Wednesday.

Under the deal, Gazprom is to take half of Eni stake in the deposit or a total of 33% in the project. In exchange, Eni will be allowed to take part in projects to develop northwest Siberian assets owned by the Arctic Gas company.

Mr Prikhodko said the document will be signed in Rome during the visit of Russian President Mr Dmitry Medvedev.

(Sourced from RIA Novosti)