Russia’s state-run Rosneft teams up with ExxonMobil to develop Arctic oil fields

MOSCOW — Russia's state-owned Rosneft teamed up with U.S. company ExxonMobil on Tuesday to develop offshore Arctic oil fields, a deal that had eluded Britain's BP earlier this year.

Rosneft spokesman Rustam Kazharov told the Associated Press that the deal was signed in the presence of Prime Minister Vladimir Putin. Kazharov, who was overseeing the signing, could not immediately comment.

Russian news agencies quoted Putin as saying that Rosneft will also be able to develop oil fields in the Gulf of Mexico and Texas as part of the deal.

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Chico Harlan 30 Aug, 2011

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Source: http://feeds.washingtonpost.com/click.phdo?i=c8d1c39e1b6d07cd89171e092f92b3a0
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