Rosneft, ExxonMobil to add new licenses to Arctic Shelf joint venture

2/13/2013

Rosneft, ExxonMobil to add new licenses to Arctic Shelf joint venture

BY JAMES MARSON

NOVO-OGARYOVO, Russia -- Exxon Mobil Corp. and Rosneft will add more licenses to their joint venture to develop hydrocarbon resources on Russia's Arctic shelf, a person familiar with the agreement said.

Some of the 12 Arctic licenses that Rosneft received Wednesday will be developed jointly with Exxon, the person said.

Rosneft Chief Executive Igor Sechin said earlier Wednesday that the company would sign an agreement to develop the new licenses.

Rosneft and Exxon Mobil declined to comment when contacted by Dow Jones Newswires.

As well as Exxon, Rosneft has partnership deals with Italy's Eni and Norway's Statoil to develop offshore resources.

Dow Jones Newswires

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