Exxon Mobil (XOM) plans to spend as much as $300M on a pilot project with OAO Rosneft (RNFTF.PK)...

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

Exxon Mobil (XOM) plans to spend as much as $300M on a pilot project with OAO Rosneft (RNFTF.PK) to tap tight oil resources in Russia. State-run Rosneft will own 51% and XOM will hold 49% of the venture that will explore the Achimov and Bazhenov formations in western Siberia next year.