Exxon to spend $200M to start Russian Arctic research center

06/11/2013 | FuelFix.com

An Arctic exploration research hub in Russia will get $200 million initially from ExxonMobil, the company said. The center would be jointly established by Exxon and Rosneft. "The Arctic Research Center and our technology sharing agreement provide new opportunities to combine our knowledge and expertise with the talented people at Rosneft to meet the next set of challenges in the Arctic and deepwater," said Sara Ortwein, president of ExxonMobil Upstream Research.

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