VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
Transcript of the beginning of the meeting:
Vladimir Putin: Good afternoon, Mr. Tillerson (Rex W. Tillerson, Chairman and Chief Executive Officer of the ExxonMobil Corporation), colleagues and friends,
I am very pleased that the company Rosneft has joined today to sign a strategic partnership agreement with one of the world’s leaders on this market, ExxonMobil. This project promises to be highly interesting and ambitious. Today's event is sure to receive a positive reaction from the world energy markets; Exxon’s exploration of Russia’s strategic continental and deep water shelf will open new horizons.
Of course, the scope of investment in this project is very large. In all, direct investments will amount to 200-300 billion. Including funding for development, infrastructure and new construction, the amount of investment could reach 500 billion.
ExxonMobil is certainly one of the world’s leading companies that also operates in difficult conditions of the Arctic. It is my understanding that your company has worked on the continental shelf for about 50 years and has developed unique technology. I was surprised to learn that your platform in Canada can sustain an impact from a one-tonne iceberg.
For Rosneft, this offers great prospects. Mr. Tillerson, I believe that an agreement has been reached with your colleagues that will allow Rosneft to work in your fields, including in the United States, in the Gulf of Mexico, Texas, and to participate in a number of joint projects in the territory of third countries (but this is a question of both companies’ bilateral relations).
I am pleased that such a good, reliable, strategic partner has emerged for us. The Russian government will support your efforts to ensure the success of your business in Russia.
Rex W. Tillerson (via interpreter): Mr Putin, many thanks for your words.
Today does mark a historic milestone in the 16-year relationship between Rosneft and ExxonMobil – a relationship that's built on years of collaboration and cooperation to successfully develop the hydrocarbon resources offshore Sakhalin Island under the Sakhalin-1 project.
So this agreement today represents a significant expansion of the Rosneft-ExxonMobil joint activities both in Russia, and as you noted importantly, in international opportunities as well.
I appreciate very much the strong expression of support from the Russian Federation government for Rosneft to enter into this alliance agreement with ExxonMobil. And I also appreciate the recognition on the part of the Russian government of necessary revisions and improvements to the tax structure to allow both Russian investments and foreign investments to be made in the challenging environments of the Russian offshore continental shelf.
And I take it as a very important, strong statement of Russia's intention to create competitive conditions to attract those investments that are on par with tax conditions that exist in other countries.
This alliance today marks an important event that I know will have a profound effect on Rosneft in the long term, it will have a profound effect on ExxonMobil in the long-term. And importantly, it represents the beginning to evaluate and develop the significant hydrocarbon potentials of the Russian continental shelf, so that those can be delivered for the value of the Russian people.
We are very pleased to be here today.
Vladimir Putin: I have looked at the components of this agreement. It includes joint operations on the shelf, as well as other activities. It also includes the joint establishment of a research centre, an Arctic research centre in St Petersburg, personnel training and work with financial institutions. Indeed, it is a strategic necessity in the truest sense of the word.
You mentioned our joint work in the Far East. This work has truly been very positive, and today’s event represents a continuation of our joint work, in terms of the positive experience we have gained in past years. As many as 13,000 new jobs have been created just at one platform where you operate. This alone is very telling.
I wish you success in your work.
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On the Russian side, the meeting was attended by Deputy Prime Minister Igor Sechin; chairman of Rosneft’s board of directors Alexander Nekipelov; Rosneft’s president and chairman of the executive board Eduard Khudainatov and others.
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At the end of the meeting, an agreement on strategic cooperation between Rosneft and ExxonMobil was signed in the presence of Prime Minister Vladimir Putin.
