16 april, 2012 19:44  

Prime Minister Vladimir Putin attends the signing of a series of agreements between Rosneft and US ExxonMobil


Talking about the package of documents ready to be signed between Rosneft and ExxonMobil, the prime minister expressed confidence that the cooperation between the two companies will be extensive and last for decades.

Transcript of the beginning of the meeting:

Vladimir Putin: Mr President, esteemed colleagues, I am glad to see you.

I am also glad to note that we have a lot to show for the months since our meeting in Sochi last autumn: we have worked hard on both sides, preparing a whole range of documents to sign. Your Russian partners will soon be able to begin working with you both in the United States and in Canada, and ExxonMobil will get access to projects in northern and southern Russia, and in other areas, including offshore projects. This work involves not only oil companies, but also other related industries. Our cooperation will span years, even decades and I expect and very much hope that we'll get off to a good start, and that the launch matches the scale of this project. Good luck to you all.

Rex W. Tillerson (via interpreter): Mr Prime Minister and Russian President-elect,

Thank you for your warm words of welcome. Today is indeed a historic day for both ExxonMobil and Rosneft. The agreements to be signed today are the result of 15 years of efforts that both companies have been making to develop Sakhalin oil resources. We are now taking our cooperation to a new level, becoming global partners. We expect that, together with our partners, we will be able to expand our presence in the Black Sea and Kara Sea regions. And in return, we can offer cooperation opportunities to ensure Rosneft's presence on the U.S., Canadian and other international markets.

You are quite right to note that much has been done since our last meting in Sochi, and we hope that our cooperation will continue. You have shown personal interest in this, and we too are very interested. I would like to make special note of the document you signed easing the fiscal regime, which will enable our company to extract oil reserves in difficult regions as part of the projects we are signing.

I would also like to take this opportunity to thank Deputy Prime Minister Mr Sechin, who has contributed a great deal and has been constantly involved in our work. It is thanks to him that we will finally sign some of these projects today because he helped resolve a number of important issues concerning them. And I certainly cannot forget to thank my partner from Rosneft, who must have had a sleepless night last night. We have done a great deal of work together to make it possible to sign these agreements today. So today is truly a historic day and I am happy to be here.

Vladimir Putin: You look good for someone who's had a sleepless night. I wish you every success, and good luck to all.

* * *

The following documents were signed:

- an agreement between parent companies, Rosneft and ExxonMobil, to set up two joint operators to develop oil and gas deposits in the Black and Kara Seas;

- a shareholders' and operating agreement between Rosneft and ExxonMobil Exploration on their Kara Sea joint venture's operating principles;

- a shareholders' and operating agreement between Rosneft and ExxonMobil Exploration on their Black Sea joint venture's operating principles;

- an agreement between Rosneft and ExxonMobil Exploration to jointly develop technology for the extraction of tight oil reserves in Western Siberia;

- a memorandum of understanding between Rosneft, United Shipbuilding Corporation and ExxonMobil;

- a memorandum of understanding between Rosneft, Russian Technologies state corporation and ExxonMobil.