US Oil giant Exxon Mobil signs Arctic oil deal with Russian Oil major Rosneft

US oil giant Exxon Mobil has signed an Arctic oil exploration deal with Russian state-owned oil firm Rosneft which help them to work with the Russian company Rosneft and explore opportunities in Russia owned sea areas.

Under the deal the two firms will initially spend nearly USD 3.2 billion on deep sea exploration for Oil and Gas in the east region of Kara Sea and Black sea. At the same time, Rosneft will get opportunity to work with Exxon in the Mexico and US regions for Oil and Gas exploration.