Rosneft, ExxonMobil sign research pacts

June 12, 2013
Rosneft and ExxonMobil Corp. have signed final agreements supporting the Arctic research center they made part of a long-term strategic cooperation agreement centered on exploration of the Russian Arctic (OGJ Online, Feb. 18, 2013).

Rosneft and ExxonMobil Corp. have signed final agreements supporting the Arctic research center they made part of a long-term strategic cooperation agreement centered on exploration of the Russian Arctic (OGJ Online, Feb. 13, 2013).

The Arctic Research & Design Center for Continental Shelf Development will focus initially on the Kara Sea.

Early work will cover safety and environmental protection; ice, metocean, and geotechnical surveys; sea ice management; development of design criteria, and evaluation and design of development concepts.

ExxonMobil will provide $200 million for the center’s initial research. It and Rosneft will equally fund the next $250 million. The center’s staff will be in Moscow.

Interests are Rosneft 66.67% and ExxonMobil 33.33%.