Russia drops joint GoM development

Russia's largest oil producer Rosneft and ExxonMobil have decided not to proceed with a joint development of oil blocks in the Gulf of Mexico due to "lack of prospects", Interfax news agency reported Dec.2. In 2011, both firms signed an agreement, which included offering Rosneft equity interests in Exxon exploration projects in North American, including deep water Gulf of Mexico and fields in Texas. (Source: Marine Link 12/05/16)