Exxon Mobil Exploits Oil with Rosneft in the Arctic Ocean
Posted: 08/12/2014 02:08:59 Edited: 08/12/2014 03:08:26 Clicks: 2106
The western is sanctioning on energy industry of Russia. But Exxon Mobil began to cooperate with Rosneft, ignoring of the prohibition.
On August 9th, Exxon Mobil started to drill an oil well in Kara Sea which is a block of the Arctic Ocean in the northern of Russia. The oil well is one of cooperative projects between Exxon Mobil and Rosneft, aiming at exploiting the area where oil reserves are as many as one hundred billion barrels. Putin, the Russian President spoke highly of the movement and he treated the movement as the model of cooperation.
A key reason that Exxon Mobil ignores of prohibition is that the contract has already been signed before new sanctions. However, under more and more rigorous sanctions of the western on Russia, the prospect of cooperation between the western energy giants and Russia is unclear.
Putin said to Igor Sechin, the CEO of Rosneft and Glenn Waller, the chief representative of Exxon Mobil in Russia through video conference. “Nowadays, high efficient international cooperation facilitates the success in business. Although there are still some political barriers existing, pragmatism and common sense prevail.
To drill the first oil well in Kara Sea, the edge of the Arctic Ocean, Exxon Mobil had already rent a drilling equipment from Seadrill, a ultra deepwater drilling platform operator in Norway. The movement meant that Exxon Mobil trusted Rosneft. As a close ally of Putin, Sechin is suffering from sanctions of the U.S.
The weight of the drilling equipment is 30.7 thousand tons and drilling depth is 7 km. What is more, the drilling equipment is equipped with an advanced iceberg early warning system which can track iceberg having potential risks so that assistant ships have time enough to drag the drilling equipment away. The drill equipment can also block off oil well and evacuate to safety zone.
On August 9th, Exxon Mobil started to drill an oil well in Kara Sea which is a block of the Arctic Ocean in the northern of Russia. The oil well is one of cooperative projects between Exxon Mobil and Rosneft, aiming at exploiting the area where oil reserves are as many as one hundred billion barrels. Putin, the Russian President spoke highly of the movement and he treated the movement as the model of cooperation.
A key reason that Exxon Mobil ignores of prohibition is that the contract has already been signed before new sanctions. However, under more and more rigorous sanctions of the western on Russia, the prospect of cooperation between the western energy giants and Russia is unclear.
Putin said to Igor Sechin, the CEO of Rosneft and Glenn Waller, the chief representative of Exxon Mobil in Russia through video conference. “Nowadays, high efficient international cooperation facilitates the success in business. Although there are still some political barriers existing, pragmatism and common sense prevail.
To drill the first oil well in Kara Sea, the edge of the Arctic Ocean, Exxon Mobil had already rent a drilling equipment from Seadrill, a ultra deepwater drilling platform operator in Norway. The movement meant that Exxon Mobil trusted Rosneft. As a close ally of Putin, Sechin is suffering from sanctions of the U.S.
The weight of the drilling equipment is 30.7 thousand tons and drilling depth is 7 km. What is more, the drilling equipment is equipped with an advanced iceberg early warning system which can track iceberg having potential risks so that assistant ships have time enough to drag the drilling equipment away. The drill equipment can also block off oil well and evacuate to safety zone.
Sechin claims that the oil reserves which will be exploited can match with Saudi Arab, the oil empire, exceeding Gulf of Mexico, Alaska in the U.S. and offshore of Canada. Analysts predict that the oil reserves in Kara Sea reach 13 billion tons which are higher than oil resources in Gulf of Mexico or the whole Saudi Arab.
Putin said, “We are very willing to expand cooperation. The cooperation between Rosneft and Exxon Mobil or other foreign corporations will promote Russian economic development and play a key role in ensuring steady of global energy situation."
Waller stated in Russian that Exxon Mobil expected urgently to continue expanding business in Russia. “The cooperation between us is a long-term cooperation. Russian market will bring great profit to us.” He said.
