Rosneft and ExxonMobil have agreed to expand their cooperation under their 2011 Strategic Cooperation Agreement to include approximately additional 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.
Head of the government Dmitry Medvedev visited Yamal where he in the High North conditions participated in full-capacity launch of Zapolyarnoye gas condensate field. Start of the new gas treatment unit will allow increasing annual production volume from Valanzhinsky deposits up to 6,5 bln m3 of gas and 1,3 mln tons of gas condensate.
Based on the Memorandum of Cooperation, Gazprom and NOVATEK signed an Agreement on setting up a joint venture for liquefied natural gas (LNG) production in the Yamal Peninsula.
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