Rosneft in talks with Exxon, Total on joint projects on Russia’s Black Sea shelf

Russia’s largest oil company Rosneft is holding talks with U.S. Exxon Mobil on joint exploration and development of the Val Shatsky oilfield and other projects on the Black Sea, Rosneft head Eduard Khudainatov told reporters on Friday.

Chevron used to be Rosneft’s previous partner in the Val Shatsky project, but the American company abandoned it citing low profitability.

“Several Russian and foreign companies, including Exxon Mobil, want to participate instead of Chevron,” Khudainatov said.

He added that France’s Total has also showed its appetite to develop the Val Shatsky field.

Rosneft and Exxon also consider partnership in other deposits of the Black Sea, including the south sites, Khudainatov said adding Rosneft did not rule out receiving additional licenses in the Black Sea.

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