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    Rosneft, ExxonMobil Project Highly Competitive with Largest Resource Bases Rosneft CEO

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    A joint project of Russia’s Rosneft and US ExxonMobil at the Arctic West Alpha rig in terms of resources can be compared to the largest projects, such as those in Saudi Arabia, and will surpass the capacities of the Gulf of Mexico Shelf, and those of Alaska and Canada, Rosneft CEO Igor Sechin said on Saturday.

    MOSCOW, August 9 (RIA Novosti) – A joint project of Russia’s Rosneft and US ExxonMobil at the Arctic West Alpha rig in terms of resources can be compared to the largest projects, such as those in Saudi Arabia, and will surpass the capacities of the Gulf of Mexico Shelf, and those of Alaska and Canada, Rosneft CEO Igor Sechin said on Saturday.

    «This project will both offer new prospects for Russia and contribute to ensuring the world’s energy security. Comparing this project in terms of a resource base to other projects, we can say for sure that it is highly competitive with the largest resources, such as the resource base of Saudi Arabia, and will by far surpass the capacities of the Gulf of Mexico Shelf, Alaska and Canada," Sechin stressed.

    In June, Rosneft and Texas-based ExxonMobil Corporation launched the Berkut oil and gas rig in the Sea of Okhotsk.

    “These projects are the largest projects in the world’s oil and gas industry this year. Right now, by implementing our plans, we have come to the start of the drilling in the Kara Sea, as we had earlier said, and this is the largest project on a shelf in the world. Preliminary geological studies, carried out by our company together with our partners from ExxonMobil look very promising,” Rosneft CEO said.

    Earlier in the day, Russia’s President Vladimir Putin announced the launch of the joint project. The opening ceremony was attended by Sechin and the Chief of ExxonMobil Russia Glenn Waller. Putin said the project would benefit Russia’s and US economies, as well as the global energy market.

    The companies will drill in the northernmost well, called Universitetskaya-1 in the Kara Sea.

    Tags:
    economy, gas fields, oil wells, energy, ExxonMobil, Kara Sea, Arctic
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