April 13, 2012 / 1:07 PM / 7 years ago

Exxon, Rosneft to formalize JV, brief analysts

A view of the Exxon Mobil refinery in Baytown, Texas September 15, 2008. REUTERS/Jessica Rinaldi

MOSCOW (Reuters) - Russian state oil firm Rosneft (ROSN.MM) will gain access to unconventional hydrocarbon resources in North America in exchange for access to Russia’s Arctic offshore when it finalizes a joint venture deal with ExxonMobil (XOM.N) on Monday, industry sources said on Friday.

Russia’s oil tsar, Deputy Prime Minister Igor Sechin, will present the project to analysts with the head of ExxonMobil, Rex Tillerson, and the head of Rosneft, Eduard Khudainatov, on Wednesday in New York, according to a copy of the invitation.

Reporting by Vladimir Soldatkin, Melissa Akin, Olesya Astakhova and Douglas Busvine in Moscow, additional reporting by Matt Daily in New York

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