A joint bid has been submitted by OAO Rosneft, Russia’s largest oil producer and Exxon Mobil Corp. in Mozambique’s fifth licensing round in order to explore the Angoche Basin and Zambezi Delta.

Rosneft and Irving, a Texas-based Exxon Mobil produces oil together off the coast of Russia’s Sakhalin Island and explored Russia’s arctic seas, an area subject to some U.S. and European Union sanctions, linked to Russia’s involvement in Ukraine.

According to Rosneft, Exxon will operate the project, if successful

“Partnerships with global industry leaders, such as Exxon Mobil, allow the company to minimize the risks in the implementation of frontier exploration projects,” it said on its website