Russia Today: Rosneft-Exxon deal: the gains and challenges

After the landmark deal, already dubbed by many “the deal of the century”, energy experts are unanimous in their estimates of potentially huge reserves the companies are getting access to, warning however that “the money is not yet on the table”.

Rosneft and Exxon will provide details of their strategic deal in New-York on Wednesday, with Exxon CEO Rex Tillerson, Rosneft president Eduard Khudainatiov and Deputy Prime Minister Igor Sechin, the man in charge of energy sector, speaking to investment analysts.

By tapping new deposits in the Arctic and East Siberia, Russia is going to sustain overall output to maintain its title as the world's top crude producer. Moreover the Arctic has significant potential as the main source of oil and gas in the future and Russia needs to open up this area in order to secure new sources of oil and gas as existing production base is going to decline over the next decade. Its traditional Western Siberia fields bring the bulk of Russia’s output, holding nearly 3/4 of Russia’s reserves.  MORE