Neftegaz, an indirect independent subsidiary of Rosneft, has acquire a 30% interest in 20 deepwater exploration blocks in the Gulf of Mexico held by ExxonMobil, under an agreement signed by the two companies. The 20 blocks have a total area of approximately 450 km² in water depths ranging between 640 and 2,070 meters. Seventeen are located in the Western Gulf of Mexico and three are in the Central Gulf of Mexico.
ExxonMobil retains 70% interest in the blocks and remains operator. Analysis of seismic data is under way. There is currently no production on the blocks. Rosneft and ExxonMobil continue to implement the Strategic Cooperation Agreement signed in 2011, under which the companies and their subsidiaries plan to undertake joint exploration and development of hydrocarbon resources in Russia and other countries and to share technology and expertise. Under subsequent agreements between Neftegaz and ExxonMobil, Rosneft subsidiary gained the option to acquire interest in 20 blocks of its choosing from among ExxonMobil’s Gulf of Mexico exploration portfolio. The latest agreement represents the exercise of that option.