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Alliance of Rosneft, ExxonMobil gives Russia major partner - Shmatko

September 01, 2011, 20:14 UTC+3
Energy Minister described the strategic partnership of the two oil companies as "a unique, revolutionary alliance"
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MOSCOW, September 1 (Itar-Tass) —— The alliance of Rosneft and ExxonMobil has given Russia has a serious partner with major financial resources and technologies, Energy Minister Sergei Shmatko told the Russia Today television news channel. He described the strategic partnership of the two oil companies as "a unique, revolutionary alliance."

"On the one hand, we have access to a serious partner with financial resources and technology - and technology is very important here, because after all the Arctic shelf is a very sensitive ecosystem," said Shmatko. "Of late the world was able to see the tragic consequences of irresponsible offshore drilling,” he said. “That is why we shall be under great control of the state, and we shall invite independent experts to look at how our company in cooperation with its partners will work on our shelf."

"On the other hand, the alliance of Rosneft and ExxonMobil is a very good signal to other companies today, it is an example of how cooperation between Russian and foreign companies may look like,” the minister said. “The plans for the exchange of assets, for entering joint markets, and for the investment of colossal funds into the development of the Arctic shelf that had been announced are a really good example."

Shmatko said that the development of oil deposits on the Arctic shelf, their exploration and development “is a strategic task of our state."

"The Arctic shelf is a real treasure of Russia, there are untold riches, and not only Russian companies, but foreign companies, too, are showing great interest in it."

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