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February 13, 2013 --- Vol. 19, No. 12February 2013

Rosneft has option on 25% of Point Thomson

In a statement released this morning, ExxonMobil and Rosneft said the companies have expanded their 2011 Strategic Cooperation Agreement to include an additional 150 million acres of exploration acreage in the Russian Arctic and potential participation by Rosneft, or an affiliate, in the Point Thomson project on Alaska’s North Slope.

The agreement also covers a joint study on a potential liquefied natural gas project in the Russian Far East.

The Point Thomson option is in a separate Heads of Agreement, the companies said.

The agreements were signed by Igor Sechin, president of Rosneft, and Stephen Greenlee, president of ExxonMobil Exploration Co.

“Participation in the Point Thomson project will increase Rosneft’s access to the latest gas and condensate field development technologies used in harsh climatic conditions,” Sechin said in this morning’s release.

—Kristen Nelson

See story in Feb. 17 issue, available online at 11 a.m. Friday, Feb. 15 at www.PetroleumNews.com

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