Market Overview

Rosneft, ExxonMobil Sign Pilot Development Agreement for Western Siberia Oil Project


Rosneft and ExxonMobil (NYSE: XOM)
signed a Pilot Development Agreement establishing a joint project
to assess the possibility of commercial production of tight oil reserves
at the Bazhenov and Achimov formations in Western Siberia.

The agreement was signed by Igor Sechin, president and chairman of the
management board at Rosneft, and Stephen Greenlee, president of
ExxonMobil Exploration Company. Rex Tillerson, chairman and chief
executive officer of Exxon Mobil Corporation (NYSE: XOM), was present for
the signing, as well as the senior management of both companies.

The document is another step towards implementation of the long-term
strategic cooperation agreement the companies signed in August 2011.

See full press release

Posted-In: News Guidance Asset Sales Management Global


Related Articles (XOM)

View Comments and Join the Discussion!
Need corporate guidance data?
Click here to see licensing options.
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at