Rosneft, Exxon ink Black Sea exploration deal

27th January 2011, Comments 0 comments

Russian energy giant Rosneft and US firm Exxon Mobil Thursday signed a deal for joint exploration in the Black Sea, both companies said.

Rosneft president E.Yu. Khudaynatov and Exxon Mobil Development Company president Neil W. Duffin signed the deal at the World Economic Forum in Davos in the presence of Deputy Russian Prime Minister Igor Sechin.

The two firms said they would form a joint operating company to hunt for oil in the Tuapse Trough, a 11,200 sq km deepwater offshore area along Black Sea coast off the Krasnodar region.

© 2011 AFP

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