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ExxonMobil asks to remove restrictions on drilling in Russia

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ExxonMobil asks to remove restrictions on drilling in Russia

ExxonMobil appealed to the Finance Ministry of the USA with the request to remove restrictions on drilling activities within the framework of its joint enterprise with Russian oil company Rosneft, Interfax reports.


The U.S. sectoral sanctions, imposed in 2014, prohibit the transfer of advanced technologies to Russia, including those related to offshore drilling. This also concerns the Arctic.

In 2011, Rosneft and ExxonMobil signed an agreement on strategic cooperation in Russia, the USA and the third countries. The agreement provides for the exploration and development of three license sites of Rosneft in the Kara Sea (East Prinovozemelsky 1, 2 and 3) and the Tuapse license block in the Black Sea. The share of Rosneft in these projects account for 66.7%, while ExxonMobil possesses 33.3%.

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