Rosneft claimed that they had already found an oil field in the Arctic Pole with the assistance of Exxon Mobil, which meant that the explored region may become one of the most important global oil-producing regions.
Igor Sechin, the CEO of Rosneft announced that there were as high as 1 billion barrels of oil existing in the operating drilling. The same geologic structure means that oil reserves in the region is comparable with that in Gulf of Mexico.
It is a pity that the expiration date authorized by the U.S. government to Exxon Mobil for cooperating with Rosneft in the Arctic Pole is October 10. That signifies that Rosneft will not continue cooperating with Exxon Mobil for oil exploration
. Although Russia finds amount of oil, Rosneft and Exxon Mobil will have to lay up oil exploration and develop in the region for a while.
When Richard Keil, the spokesmen of Exxon Mobil was interviewed, he said, “We have already found oil while the final result is unexpectable. The current priority is finishing the drilling and ending the cooperation with Russia before permission deadline of the U.S. government.
Exploiting oil reserves in the Arctic Pole which will cost tens of billions of dollars is one of Putin’s ambitions. Owing to oilfield in Siberia exhausting gradually, Russia needs to develop new oil reserves to compete with the U.S. for the largest global oil and gas producer. For this, it is also one of reasons that the U.S. ranks offshore oil exploration into its new sanctions on Russia.