Bloomberg reported Wednesday that Exxon Mobil Corp. is negotiating to bring OAO Rosneft into oil and gas licenses in Iraq’s Kurdistan region.
“Rosneft is considering the proposal and a deal isn’t guaranteed, according to the people, who asked not to be identified because the discussions are confidential,” Bloomberg said.
U.S. and European Union sanctions following President Vladimir Putin’s annexing of Crimea haven’t yet impacted operations of multinational companies in Russia.
Exxon and Rosneft have exploration and production projects offshore Sakhalin Island. They’re also developing Russian shale.
Exxon has six production-sharing contracts signed in 2011 covering more than 848,000 acres in Kurdistan, Bloomberg said.
Kurdistan is an autonomous region in northern Iraq. Awards of oil deals and export rights there have been disputed by the central government in Baghdad.