Two of the world’s largest oil producers announced a mutual agreement Monday on multiple projects around the world.Rosneft will acquire 30% stakes in three North American projects belonging to Exxon Mobil (NYSE:XOM). In return, Exxon will get access to Russia’s offshore fields which Rosneft has control over.The two companies will also form joint ventures to manage an exploration program in the Kara and Black Seas. The initial cost of the preliminary exploration will be over $3.2 billion.Under the deal, Rosneft and Exxon will continue to share technology and expertise as well as jointly explore for and develop oil and natural gas in Russia.
