This is an exciting move. With this deal , BP will bring the expertise that it has developed in Alaska, the Beaufort Sea and Northern Siberia. By getting into bed with Rosneft, the group obtains first mover advantage.
KEITH MORRIS | EVOLUTION SECURITIES
The deal looks like a typically bold BP move accessing a new region considered highly prospective. But this is an exploration opportunity so while it may be a good long-term strategic investment, delivery is years away.
JONATHAN JACKSON | KILLIK & CO
It looks as if BP has taken a view that the chances of it being able to access resources in the US may be beyond the company for a generation and believes it needs to look elsewhere for growth options.