Rosneft, ExxonMobil Study More Cooperation Opportunities

Rosneft and ExxonMobil intend to extend their cooperation, considering prospects for developing offshore projects together.

Rosneft President Igor Sechin met Rex Tillerson, Chairman of ExxonMobil, on Thursday. 

‘The parties discussed the implementation of ongoing projects, including the construction of an LNG plant on Sakhalin,’ reads a note released by the Russian company. 

Other common interests are in the Arctic offshore and in the Northern tip of the Chaivo field.

“Rosneft’s offshore license areas hold massive hydrocarbon resource potential, most of which is natural gas. Given the fact that offshore fields are difficult to reach and are not connected to the national gas supply system, the most efficient way to monetize these resources is to liquefy the natural gas and sell the LNG in export markets,”  Rosneft President Igor Sechin commented in August.

According to that statement, Rosneft and ExxonMobil planned to complete the design work of the LNG platform on Sakhalin in the following 16 months.