Exxon's Tillerson appears with Rosneft's Sechin at Moscow energy summit

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Exxon Mobil (XOM +0.2%) CEO Rex Tillerson talked up his company’s prospects in Russia, appearing at an energy summit in Moscow today alongside Rosneft CEO Igor Sechin, despite U.S. sanctions against the Russian exec with close ties to Vladimir Putin.

XOM plans to drill its first well in Russia's Arctic waters, targeting a formation that could hold more than 8B barrels of oil, in one of its most promising chances to discover new oil reserves; in addition to the Kara Sea exploration, XOM’s alliance with Rosneft includes exploration in the Sakhalin Islands and Siberia, and joint venture fields in Texas.

Sechin says its relationship with XOM is “business as usual.”