ExxonMobil in $3.2bn Rosneft Arctic pact

Done deal: ExxonMobil shakes hands with Rosneft on large-scale cooperation

ExxonMobil and Rosneft have struck a partnership deal for exploration and production in Russia, the US and elsewhere.

The US supermajor and Russian oil giant are planning a $3.2 billion development programme in the Kara Sea in Russia's Arctic region as well as the Black Sea.



The vast deal, which also covers projects in Western Siberia, the US and elsewhere in the world, in part replaces an earlier proposed tie-up between Rosneft and UK supermajor BP which fell apart months after it was announced earlier this year.



Tuesday's announced deal was struck during a meeting at the Black Sea resort town of Sochi attended by Russian Prime…

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