Exxon and Rosneft have signed an agreement to expand their Joint Venture by adding seven blocks on Russia's Arctic Shelf
ExxonMobil and Rosneft have reached agreement to expand their joint venture, focused on frontier exploration in the Russian Arctic. The expanded joint venture now lays claim to a (unrisked) resource potential at over 220 billion barrels of oil equivalent - as estimated by Rosneft. The agreement leverages complementary strengths from the two companies - ExxonMobil's technical and financial capabilities and Rosneft's access to prime Russian offshore acreage. This expanded strategic ...