rosneft exxonmobil detail arctic deal
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Rosneft, ExxonMobil detail Arctic deal

Arab Today, arab today

Arab Today, arab today Rosneft, ExxonMobil detail Arctic deal

Moscow - AFP

Russia's oil giant Rosneft on Monday detailed a strategic alliance with ExxonMobil including agreements on offshore exploration and Rosneft's participation in North American projects. The state-owned Rosneft and ExxonMobil last August penned a landmark partnership agreement to invest $3.2 billion on offshore exploration in the Black Sea and Kara Sea. The companies on Monday signed agreements to create joint ventures that will manage the offshore exploration programmes, Rosneft said in a statement. "Today Rosneft and ExxonMobil enter offshore projects of unprecedented scale in the Russian Arctic and Black Sea regions, which are home to the world's largest hydrocarbon resources base," said Rosneft President Eduard Khudainatov, who signed the agreements with ExxonMobil's Rex Tillerson. Rosneft subsidiaries will also gain 30 percent stakes in ExxonMobil's projects in West Texas, the U.S. Gulf of Mexico and Canada, the statement said without disclosing financial details. Neftegaz Holding America Limited will acquire 30 percent of ExxonMobil's share in the La Escalera Ranch project of the Delaware Basin in West Texas, and 30 percent in 20 drilling blocks in the Gulf of Mexico. Another subsidiary, RN Cardium Oil Inc., acquired 30 percent of ExxonMobil's stake in the Harmattan acreage in the Cardium formation in Alberta, Canada, which "may become a source for the development of technologies for unconventional reservoirs in Russia," the statement said. "(Work on these agreements) is for years ahead," Prime Minister Vladimir Putin told Rex Tillerson while overseeing the signing in his Moscow region residence. "I wish you luck." The partnership with ExxonMobil last year followed Rosneft's failure to strike a similar deal with BP in its search for a global partner that would share expertise and technology to explore its vast Arctic reserves. The agreement with BP fell through after the British company's Russian partners claimed it violated their own shareholder pact. ExxonMobil became Russia's new partner several months later, pledging to invest $2.2 billion into the joint Arctic shelf project and be the first to tap into reserves that some scientists estimate at 100 billion tonnes of oil. Exploration activity already began in the Black Sea's Tuapse Trough, where ExxonMobil is to invest $1 billion. Drilling of the first exploration well is planned for 2014-2015, Rosneft said.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

rosneft exxonmobil detail arctic deal rosneft exxonmobil detail arctic deal

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

rosneft exxonmobil detail arctic deal rosneft exxonmobil detail arctic deal

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday