Rosneft, ExxonMobil ink cooperation deal including Arctic projs

MOSCOW, Aug 30 (PRIME) — Russian oil major Rosneft and U.S. oil company ExxonMobil have signed an agreement on strategic cooperation, which includes joint work at Arctic shelf development projects, RIA Novosti reported Tuesday.

The agreement was signed by Rosnefts President Eduard Khudainatov and ExxonMobil Developments President Neil Duffin.

Russian Prime Minister Vladimir Putin, who also attended at the signing ceremony, said that the two companies are to jointly develop projects on Russias Arctic and deep water shelves. Direct investments into these projects could reach up to 500 billion rubles, including projects to build infrastructure facilities, Putin also said.

Putin added that under the agreement Rosneft would be able to work at ExxonMobils sites in the Gulf of Mexico, as well as in the U.S. state of Texas, and in other countries.

(28.7108 rubles U.S. $1)


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