OAO Rosneft and Exxon Mobil Corp. have submitted joint bids in Mozambique’s fifth licensing round to explore the Angoche Basin and Zambezi Delta.
If successful, Exxon Mobil would operate the project, according to a statement by Rosneft, Russia’s largest oil producer, on its website.
“Partnerships with global industry leaders, such as Exxon Mobil, allow the company to minimize the risks in the implementation of frontier exploration projects,” it said.
Rosneft and Irving, Texas-based Exxon Mobil already produce oil together off the coast of Russia’s Sakhalin Island. They also have explored Russia’s arctic seas, an area subject to some U.S. and European Union sanctions linked to Russia’s involvement in Ukraine.
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