The sea off Siberia where ExxonMobil and Rosneft plan a joint Arctic exploration (photo: dpa)

Energy: Russia's ExxonMobil-Rosneft deal highlights rules of investors' game

The deal struck by Rosneft and ExxonMobil over exploration of Arctic oil and gas resources, and Rosneft's ditching of BP as a partner in a similar venture has given an insight into how foreign investors in Russia are bound by 'rules' it would be wise not to ignore, says GIS expert Professor Stefan Hedlund in this briefing.

EXPLORATION of the Arctic is likely to be the last major frontier for oil and gas. The stakes involved are huge and competition for a piece of the action is intense.

Given that Russia is home to maybe two-thirds of these resources, much attention has been drawn to the question of which foreign oil companies will ...

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Professor Stefan Hedlund
Given that Russia is home to maybe two-thirds of this resource wealth, much attention has been drawn to the question of which foreign oil companies will be accepted by the Russian state as partners
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