Best Italia Economy Portal: Exxon and Rosneft, maxi-discovery of oil and gas in the Russian Arctic

Exxon and Rosneft, maxi-discovery of oil and gas in the Russian Arctic – La Stampa

Exxon and Rosneft, maxi-discovery of oil and gas in the Russian Arctic

They continued to work despite the sanctions, but the future is uncertain. Gazprom warns Europe: “Possible disruption in supplies of natural gas,”

AFP

27/09/2014

The American oil giant Exxon Mobil in joint-venture with Russia’s Rosneft in the Arctic Sea has discovered a huge Russian oil field. Exxon and Rosneft have started to drill during the summer and have continued despite the sanctions for the crisis in Ukraine.

The sanctions of the United States and the European Union should prevent Russian companies access to Western technology research and drilling.

The CEO of Rosneft, Igor Sechin, himself subject to American sanctions, today announced that the field contains the equivalent of one billion barrels of oil and 338 billion cubic meters of gas. “It is beyond our expectations. It’s a win for everyone, obtained thanks to our friends and partners such as Exxon Mobil, North Atlantic Drilling, Schlumberger, Halliburton, Weatherford, Baker, Trendsetter, Fmc. ” The field, added the number one Rosneft, will be called “Pobeda”, which means Victory.

But it is not clear how to continue the adventure in the Arctic. From October 10, the American companies will no longer participate in joint ventures in the Russian Arctic Sea and according to experts the Rosneft does not have the technology to go on alone work offshore drilling in arctic temperatures.

The shot will be hard to absorb even for Exxon Mobil oil company as it is the most exposed to Western Russia. Between 2011 and 2013, the giant stars and stripes has closed a series of agreements with Rosneft for oil exploration not only in the Arctic but also in Siberia and the Russian company has also sold minority stakes in a number of projects in the Gulf of Mexico. For the two companies hope is that in the coming months to end the war of sanctions between the West and Russia.

Meanwhile arrive contradictory reports on the supply of Russian gas to Europe. Ukraine denies, in part, the Western interpretation that the dispute regarding arrears due from Kiev to Moscow would be fully resolved. And the CEO of the Russian giant Gazprom, Alexiei Miller warns that the EU “in the coming winter will be interruptions in the flow of Russian gas to Europe through Ukraine.” The cause, however, would only be technical, that is, “the low volumes kept in deposits Ukrainians.”

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Exxon and Rosneft, maxi-discoveryof oil and gas in the Russian Arctic

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