Rosneft and today announced the selection of Vostochniy Offshore Structures
Construction Yard to conduct a concept evaluation and feasibility study
for a platform capable of safely exploring Kara Sea′s shallow waters.
Key attributes of the platform concept are safety and environmental
protection measures for operating in Arctic conditions and the ability
to withstand extreme ice, wind, wave and temperature conditions.
The study will evaluate the feasibility of utilizing a gravity base
structure that could extend the drilling season by several months.
Designed to operate in up to 60 meters (200 feet) of water, the
structure with drilling equipment would be installed on the seabed to
drill a well and then would be refloated and moved to other drilling
sites.
The agreement for the study was signed today by Igor Sechin, Rosneft
president and Chairman of the Management Board; Stephen M. Greenlee,
president of ExxonMobil Exploration Company; and Alexey Kozhemyakov, CEO
of Vostochniy Offshore Structures Construction Yard in the presence of
Russian President Vladimir Putin and Rex W. Tillerson, chairman and
chief executive officer of Exxon Mobil Corporation (NYSE:XOM).
Vostochniy Offshore Structures Construction Yard, also known as VOSTCO
Yard, has extensive experience in offshore projects. The yard has the
production capacity to construct foundations, including Russia's largest
dry dock, and can be engaged to build concrete foundations or other
similar class construction projects. Kvaerner, a design bureau with
experience of this kind of work, will provide design services for the
project in collaboration with VOSTCO Yard.
Commenting on the concept, Igor Sechin noted: 'I am glad to say another
step has been made in practical implementation of the strategic
agreement with ExxonMobil. It is important that concept evaluation and
further construction of the platform will be carried out by Russian
companies that will further enhance their competence in a sector that is
central to the Russian economy. Appraisal of the concept for a platform
to be used in our joint project with ExxonMobil in the Kara Sea will
incorporate the most stringent environmental and industrial safety
standards.'
Rex Tillerson said, 'ExxonMobil has been operating in the Arctic for
more than 80 years and supports the continued development of
state-of-the-art systems to protect the safety of workers and the Arctic
environment.?
The platform concept will be evaluated for use in the shallow waters of
East Prinovozemelsky License Blocks 1, 2 and 3. The blocks contain a
total area of 126,000 square kilometers (48,600 square miles) in waters
20 meters (65 feet) to 200 meters (650 feet) deep. Semi-submersible rigs
would be used in water deeper than 60 meters (200 feet).
CAUTIONARY NOTE:
Statements of future events and conditions in this release are
forward-looking statements. Actual future results, including project
plans, costs and benefits; resource recoveries; and the impact of
technology could differ materially due to changes in oil or gas prices
or other market conditions affecting the oil and gas industries; the
outcome of exploration and development projects; unforeseen technical
difficulties or technological changes; the outcome of commercial
negotiations; changes in law or government regulation; and other factors
discussed here and under the heading 'Factors Affecting Future Results'
in the Investors′ section of ExxonMobil′s web site at exxonmobil.com and
on the Investors′ pages of ExxonMobil′s ( and Rosneft′s ( websites.
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