Rosneft says Exxon Still Continues to Work With it in Arctic

Russia's biggest oil producer Rosneft said on Saturday that Exxon Mobil was still continuing exploration drilling at their joint project in the Arctic Kara Sea.

"The work on the University well is continuing according to plan. We are satisfied with the decision of the U.S. regulator which gave the relevant permission to Exxon," Larisa Kalanda, a vice president of Rosneft, told reporters.

Exxon said on Friday that the U.S. Treasury Department gave it a short extension to wind down a rig at the well, beyond the 14 days outlined in the sanctions targeting Western cooperation with Russia's oil sector in response to Moscow's role in the Ukraine crisis.

(Reporting by Katya Golubkova; Writing by Maria Kiselyova; Editing by Toby Chopra)