ExxonMobil, Rosneft could spend $500B on Arctic-drilling project

04/19/2012 | FuelFix.com

ExxonMobil and Rosneft could spend more than $500 billion on their joint Arctic-exploration venture. Three key Arctic fields could contain about 85 billion barrels of oil equivalent in recoverable reserves, the companies said in a presentation. The firms seek to drill initial exploratory wells in the Kara Sea as soon as 2014.

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