Looking for a specific product?

Make a search for products & suppliers, articles & news.

Norwegian-Russian oil and gas exploration

Russian Roseneft and Norwegian Statoil have signed agreements resulting in a joint venture to explore offshore areas in the Sea of Okhotsk and in the Barents Sea.

Helge Lund, CEO of Statoil, and Igor Sechin, Chairman of Rosneft, signed the agreement marking another step forward in the cooperation which was signed on May 5th 2012 between the two companies.

A letter of intent has also been signed for the exploration of shale oil opportunities in the Samara region.

- Cooperation on exploration on the shelf constitutes the cornerstone of the broader cooperation between Statoil and Rosneft. The combined expertise of the two companies will enable future exploration in frontier areas, and we look forward to working together on these projects. These opportunities are in line with our strategy of exploration in areas with high potential through early access to a large scale in new areas, said Statoil CEO Helge Lund.

"We are glad to mark the progress in our cooperation with Statoil in Russian offshore projects covering an acreage of 102,000 square kilometres. It is our strong conviction that signing today's agreement for tight oil will allow us and our partner to efficiently develop the promising hard to recover reserves in the Samara region," said Igor Sechin, chairman of the Management Board and president at Rosneft.

Statoil will have an equity share of 33.33% and Rosneft 66.67% in each of the operating companies established to explore the offshore licenses.

Russian Roseneft and Norwegian Statoil have signed agreements resulting in a joint venture to explore offshore areas in the Sea of Okhotsk and in the Barents Sea.

Helge Lund, CEO of Statoil, and Igor Sechin, Chairman of Rosneft, signed the agreement marking another step forward in the cooperation which was signed on May 5th 2012 between the two companies.

A letter of intent has also been signed for the exploration of shale oil opportunities in the Samara region.

- Cooperation on exploration on the shelf constitutes the cornerstone of the broader cooperation between Statoil and Rosneft. The combined expertise of the two companies will enable future exploration in frontier areas, and we look forward to working together on these projects. These opportunities are in line with our strategy of exploration in areas with high potential through early access to a large scale in new areas, said Statoil CEO Helge Lund.

"We are glad to mark the progress in our cooperation with Statoil in Russian offshore projects covering an acreage of 102,000 square kilometres. It is our strong conviction that signing today's agreement for tight oil will allow us and our partner to efficiently develop the promising hard to recover reserves in the Samara region," said Igor Sechin, chairman of the Management Board and president at Rosneft.

Statoil will have an equity share of 33.33% and Rosneft 66.67% in each of the operating companies established to explore the offshore licenses.

 

To read the full press release, please visit the Statoil website.

Associated companies:


Related news

Latest news

SAR Celebrates 2nd anniversary in Kuwait

SAR Celebrates 2nd anniversary of operation in Kuwait.

SAR AS Celebrates 30 years of operation!

The history of SAR goes 50 years back to the late 1960s with the company Septik Tank Co. 

Ready to conquer the world with Hansen Protection Helicopter pilot suits

In 2017, for the first time in the history of helicopter sport, the World Cup in Helicopter Races is going to be held. It is going to take place in 7 countries, and starts on Friday April 7th in Konakovo, Russia.

SeaBass Fisherman's Work / Flotation Suit

SeaBass is a waterproof, buoyant work suit for anyone working on or around water.

Improved Surface Rescue Preparedness can Save Lives

A significant part of the Norwegian fire and rescue services lack good apparel for use in surface rescue operations. This can mean the loss of valuable time in rescue operations in water, and experts now call for a change ...

Historical contract for Norwater AS!

The excitement was at its height at Norwater AS in Høylandsbygd on Wednesday last week. The company signed its biggest contract in history, in strong competition with both Norwegian and foreign competitors. The order book ...

Export Credit Norway Finances Production of Ready-to-use Therapeutic Foods in South Africa

Since being founded in 1948, the Norwegian company GC Rieber Compact has developed into a leading supplier of ready-to-use therapeutic foods to customers such as Doctors Without Borders, the Red Cross, the World Food Progr...

Peru Corporate Day

On 26th September, Oslo Chamber of Commerce will for the first time receive a technological business delegation from Peru to Norway, led by PROMPERÚ.

New contract for delivery of Servogear CPP

The Servogear installation includes CPP propellers,