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Russia: Putin backs Rosneft and ExxonMobil international ventures01:18

Russia: Putin backs Rosneft and ExxonMobil international ventures

Russian Federation, Yuzhno-Sakhalinsk
July 16, 2013 at 08:22 GMT +00:00 · Published

Russia: Putin backs Rosneft and ExxonMobil international ventures

Russian President Vladimir Putin held a video-conference with head of Rosneft Igor Sechin and President of ExxonMobil Development Company Neil Duffin on Tuesday. Putin communicated with the two energy leaders from the island city of Yuzhno-Sakhalinsk on Russia's far eastern Sakhalin Island, urging the companies to expand cooperation related to international projects.

Sechin and Duffin were seen on the other side of the screen standing at the Orlan rig in the Sea of Okhotsk – an oil drilling facility installed in 2005. Rosneft and ExxonMobil signed a Strategic Cooperation Agreement in 2011 as well as joint venture agreements at the St Petersburg International Economic Forum in June of 2013.

The two companies are expected to jointly finance and drill sites in the Black Sea, the Arctic Sea, and a tight oil formation in west Siberia. Further, both companies have decided to move forward on a liquified natural gas (LNG) station in Russia's far east as well as a joint research station for Arctic energy ventures.

The two companies are also expected to increase cooperation outside of the Russian Federation. Putin encouraged the partnership between the two companies to develop internationally, focusing specifically on future projects planned for the Gulf of Mexico.

“I am glad that ExxonMobil and our largest oil and gas company Rosneft are becoming strategic partners. I expect that Rosneft and ExxonMobil will work together in other parts of the world, including the Gulf of Mexico in the US. You will be doing major work, and I would like to wish you success", Putin said.

Russia: Putin backs Rosneft and ExxonMobil international ventures01:18
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Russia: Putin backs Rosneft and ExxonMobil international ventures

Russian President Vladimir Putin held a video-conference with head of Rosneft Igor Sechin and President of ExxonMobil Development Company Neil Duffin on Tuesday. Putin communicated with the two energy leaders from the island city of Yuzhno-Sakhalinsk on Russia's far eastern Sakhalin Island, urging the companies to expand cooperation related to international projects.

Sechin and Duffin were seen on the other side of the screen standing at the Orlan rig in the Sea of Okhotsk – an oil drilling facility installed in 2005. Rosneft and ExxonMobil signed a Strategic Cooperation Agreement in 2011 as well as joint venture agreements at the St Petersburg International Economic Forum in June of 2013.

The two companies are expected to jointly finance and drill sites in the Black Sea, the Arctic Sea, and a tight oil formation in west Siberia. Further, both companies have decided to move forward on a liquified natural gas (LNG) station in Russia's far east as well as a joint research station for Arctic energy ventures.

The two companies are also expected to increase cooperation outside of the Russian Federation. Putin encouraged the partnership between the two companies to develop internationally, focusing specifically on future projects planned for the Gulf of Mexico.

“I am glad that ExxonMobil and our largest oil and gas company Rosneft are becoming strategic partners. I expect that Rosneft and ExxonMobil will work together in other parts of the world, including the Gulf of Mexico in the US. You will be doing major work, and I would like to wish you success", Putin said.