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Joint ventures being created to explore in Russian Black Sea and Kara Sea; initial planning and exploration steps taken at the license areas in those waters; Rosneft subsidiaries take equity in promising exploration and development projects in the United States and Canada Russian government’s new tax approach strengthens incentives for offshore operations

Sochi, Russia – August 30, 2011. Rosneft and ExxonMobil have executed a Strategic Cooperation Agreement under which the companies plan to undertake joint exploration and development of hydrocarbon resources in Russia, USA and other countries throughout the world, and to commence technology and expertise sharing activities.
