With the deal, announced this week, ExxonMobil replaces BP as Rosneft’s strategic partner in the Arctic. According to the deal, the two companies will jointly map and develop the three East Prinovozemelsky License Blocks in the Kara Sea, an area covering 126,000 square kilometers. The blocks are identical to the areas included in the deal between Rosneft and BP from January this year, an agreement which collapsed following protests from TNK-BP. Read More
