The Russian state oil company, Rosneft, intends to sign a major contract to supply China with more than $60 billion of crude oil, a deal that could signal a small shift away from Western Europe toward Asia.

Russia has been gradually opening its oil spigot to China in recent years. While the overall volume of Russia’s oil output has remained level, the country has decreased sales to recession-plagued Europe.

“Without any exaggeration a large-scale contract has been prepared by Rosneft,” said President Vladimir V. Putin said after a meeting on Thursday with China’s vice premier, Zhang Gaoli. Supplies to China are expected to reach “volumes of hundreds of millions of tons of oil, in total worth more than $60 billion” Mr. Putin said, though he provided no further details about the hefty contract.

Even a modest shift could have a significant effect on Europe, raising prices across the region. Russia is now the largest oil producer in the world, pumping about 10 million barrels a day, slightly more than Saudi Arabia.