ADDING MULTIMEDIA Rosneft and ExxonMobil Expand Strategic Cooperation

  ADDING MULTIMEDIA Rosneft and ExxonMobil Expand Strategic Cooperation

  *Companies to add seven Arctic license areas covering approximately 600,000
    square kilometers (150 million acres) in the Chukchi, Laptev and Kara seas
  *Rosneft is provided the option to acquire a 25 percent interest in Point
    Thomson natural gas and condensate project in Alaska operated by
  *Companies to jointly study potential for LNG project in Russian Far East

Business Wire

MOSCOW -- February 13, 2013

Rosneft and ExxonMobil have agreed to expand their cooperation under their
2011 Strategic Cooperation Agreement to include an additional approximately
600,000 square kilometers (150 million acres) of exploration acreage in the
Russian Arctic and potential participation by Rosneft (or its affiliate) in
the Point Thomson project in Alaska. They have also agreed to conduct a joint
study on a potential LNG project in the Russian Far East.

The agreements, which include plans to explore seven new blocks in the Chukchi
Sea, Laptev Sea and Kara Sea, were signed by Igor Sechin, president of
Rosneft, and Stephen Greenlee, president of ExxonMobil Exploration Company, in
the presence of Russian President Vladimir Putin.

The license blocks include Severo-Vrangelevsky-1, Severo-Vrangelevsky-2 and
Yuzhno-Chukotsky blocks in Chukchi Sea, Ust’ Oleneksky, Ust’ Lensky and
Anisinsko Novosibirsky blocks in Laptev Sea and Severo Karsky block in Kara
Sea, which are among the most promising and least explored offshore areas

A separate Heads of Agreement was signed providing Rosneft (or its affiliate)
an opportunity to acquire a 25 percent interest in the Point Thomson Unit,
which covers development of a remote natural gas and condensate field on
Alaska’s North Slope. It is estimated that Point Thomson contains
approximately 25 percent of the known gas resource base in Alaska’s North

Rosneft and ExxonMobil also executed a Memorandum of Understanding to jointly
study the economic viability of an LNG development in the Russian Far East,
including the possible construction of an LNG facility. The companies will
form a joint working group, which is expected to commence work in the coming
weeks to study the viability of an LNG project using available natural gas

Commenting on the agreements signed, Igor Sechin said, “The agreements signed
today bring the already unprecedented scale of the Rosneft and ExxonMobil
partnership up to a completely new level. The acreage in the Russian Arctic
subject to geological exploration and subsequent development increased nearly
six-fold. That means the enormous resource potential of Russian Arctic
offshore fields will be explored and developed in the most efficient manner
with the application of cutting-edge technologies and expertise of our
strategic partner, ExxonMobil, and using state-of-the-art environmental
protection systems. Participation in the Point Thomson project will increase
Rosneft’s access to the latest gas and condensate field development
technologies used in harsh climatic conditions.”

Stephen Greenlee said the agreements build on the ongoing successful
cooperation between the companies. “This expansion is an illustration of the
strength of the partnership that exists between ExxonMobil and Rosneft,” said
Greenlee. “We look forward to working together on these new projects.”

The companies are committed to using global best practices and
state-of-the-art safety and environmental protection systems for the Arctic
operations. The work will be supported by the recently signed Declaration on
the Russian Arctic Shelf Environmental protection. Also, ExxonMobil and
Rosneft will work together through an Arctic Research Center to provide a full
range of research and design services to support their cooperation on Arctic

Rosneft and ExxonMobil continue to implement a program of staff exchanges of
technical and management employees to help strengthen relationships between
the companies.


Statements of future events and conditions in this release are forward-looking
statements. The Strategic Cooperation Agreement represents a binding outline
of terms, and closing of the transactions contemplated by the agreement is
subject to execution of definitive final agreements, receipt of necessary
regulatory approvals, and other customary conditions. Actual future results,
including potential costs and benefits realized by the parties as a result of
the transactions, could differ materially depending on the outcome of future
negotiations; the actions of governmental authorities and regulators,
including legal and legislative uncertainties; the outcome of exploration
programs; changes in prices and other market and economic factors affecting
the oil and gas industries; future technological developments; other technical
and operating factors; actions of competitors; and other factors discussed
under the heading “Factors Affecting Future Results” on the Investors page of
ExxonMobil’s website at

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