Exxon, Rosneft to formalize JV, brief analysts

By @ibtimes on

Russian state oil firm Rosneft will gain access to unconventional hydrocarbon resources in North America in exchange for access to Russia's Arctic offshore when it finalizes a joint venture deal with ExxonMobil on Monday, industry sources said on Friday.

Russia's oil tsar, Deputy Prime Minister Igor Sechin, will present the project to analysts with the head of ExxonMobil, Rex Tillerson, and the head of Rosneft, Eduard Khudainatov, on Wednesday in New York, according to a copy of the invitation.

(Reporting by Vladimir Soldatkin, Melissa Akin, Olesya Astakhova and Douglas Busvine in Moscow, additional reporting by Matt Daily in New York)

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