Tillerson touts Kara Sea progress

Power pair: Vladimir Putin given presentation by Rex Tillerson on Kara Sea project

ExxonMobil chief Rex Tillerson has said the US supermajor’s Kara Sea exploration project is running ahead of schedule with hopes to kick off drilling at the Arctic play in 2014.

Tillerson pointed out seismic surveys had gotten under way in recent weeks a year ahead of schedule.

"With this data on the Kara Sea in hand and analysed we expect the drilling of an exploration well in the 2014-15 time frame," he said, according to Reuters.

Tillerson said he saw potential for exploration drilling in the Black Sea also in 2014 or 2015.

The ExxonMobil boss was speaking in the far-eastern Russian port city of Vladivostok, where he was reportedly the first foreign businessman to meet Russian President Vladimir Putin ahead of this…

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