THE MOSCOW TIMES
31 January 2011
DAVOS, Switzerland ? Peter Voser, chief executive of Royal Dutch Shell, said he?s looking at a partnership with Rosneft to hunt for oil reserves.
?We are talking about potential exploration? together, Voser said Friday in Davos, Switzerland. ?Partnership with national oil companies is part of our business model.?
Shell, ExxonMobil and BP are teaming up with government-controlled companies in oil-rich countries to gain access to resources. Rosneft, Russia?s biggest energy company, this month agreed to swap $8 billion in shares with BP and explore Russia?s Kara Sea.
Shell?s projects are designed to be profitable with an oil price between $50 and $90 a barrel, he said. The company last year agreed to expand cooperation with Gazprom, both inside and outside of Russia.