Rosneft, ExxonMobil to Assess the Commercial Production Possibility in Western Siberia Tight Oil Pilot Project

摘要

In early December Rosneft and ExxonMobil signed a Pilot Development Agreement establishing a joint project to assess the possibility of commercial production of tight oil reserves at the Bazhenov and Aehimov formations in Western Siberia. The companies will set up a JV to run a pilot program and potential commercial production with equity interests of 51 percent for Rosneft and 49 percent for ExxonMobil. Work will be carried out at Rosneft's 23 license blocks covering a total area more than 10,000 sq. kilometers.