Rosneft and Exxonmobil expand strategic cooperation
Igor Sechin, president of Rosneft and Stephen Greenlee, president of ExxonMobil Exploration Company have signed a number of agreements on cooperation, Rosneft press center informs.
The companies have agreed to expand their cooperation under their 2011 Strategic Cooperation Agreement to include approximately additional 600,000 square kilometers (150 million acres) of exploration acreage in the Russian Arctic, and potential participation by Rosneft (or its affiliate) in the Point Thomson project in Alaska. They have also agreed to conduct a joint study on a potential LNG project in the Russian Far East.
A separate Heads of Agreement was signed providing Rosneft (or its affiliate) with an opportunity to acquire a 25 percent interest in the Point Thomson Unit which covers the project of developing a remote natural gas and condensate field on Alaska’s North Slope. It is estimated that Point Thomson contains approximately 25 percent of the known gas resource base in Alaska’s North Slope.
Rosneft and ExxonMobil also executed a Memorandum of Understanding to jointly study the economic viability of an LNG development in the Russian Far East, including the possible construction of an LNG facility. The companies will form a joint working group which is expected to commence work in the coming weeks to study the viability of an LNG project using available natural gas resources.