Middle East Economic Survey

VOL. LIV

No 6

7-Feb-2011

CASPIAN

Rosneft And ExxonMobil Sign Black Sea E&P Agreement

On 27 January Russias Rosneft and ExxonMobil announced that they have signed an agreement for joint development of deepwater resources in the Russian exclusive economic zone of the Black Sea. An ExxonMobil press statement said that the agreement envisages the formation of a joint operating company to conduct exploration and production (E&P) in the Tuapse Trough, an 11,200...