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ExxonMobil Will Join Rosneft To Develop Russian Offshore Fields

Friday, Sep 2, 2011 at 12:03 pm in Oil & Gas
Posted by Bill Pradi, Senior Analyst

After several rounds of speculations market finally got the news that Rosneft has found new strategic partner to develop its offshore deposits. British Petroleum will be replaced by US holding and world’s largest public oil company ExxonMobil.

Agreement with Exxon would be similar to the one Rosneft had planned to sign with BP in the beginning of this year, Russian newspaper Vedomosti reports in its article. Global mission for the cooperation is the development of Russian shelf deposits. For this companies has agreed to create Joint Venture with 66,7% stake of Rosneft and remaining 33,3% belonging to ExxonMobil. 

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