MOSCOW, May 5 (RIA Novosti) – The board of directors of Russian oil giant Rosneft has endorsed four projects to explore and develop Arctic oil reservoirs in the Laptev and Chukchi Seas in a joint effort with US-based ExxonMobil, Rosneft said in a statement Monday.
The projects will target four licensed oil-rich reservoirs: the Anisinsk-Novosibirsk and Ust-Oleneksk shelf sites in the Laptev Sea shelf zone, as well as the North-Wrangel-2 and South-Chukchi shelf reservoirs, the statement said.
Late last month, Rosneft’s board of directors met to assess the price of each related deal within the four projects and backed the mutually beneficial agreements, including those regulating joint ventures, operating services, financing payments and hydrocarbon trade.
The Russian oil major declined to disclose the financial terms of the deal.
Last month, Rosneft and ExxonMobil agreed to cooperate on the Ust-Leninskoye reservoir on the Laptev shelf and the North-Wrangel-1 site on the Chukchi shelf.
