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

Winner of Norwegian Export Award 2018 Announced

Airthings is the winner of the Norwegian Export Award 2018. 

Why going in circles is good

In fire detection systems for explosive environments,

Here is AKVA group’s first hybrid feed barge!

Protecting the environment is our main reason to invest in this technology. 

New Display Technologies Enable the Naval Vessel Bridges of the Future

Hatteland Display's cutting-edge display solutions on show at Sea-Air-Space 2018 enable a new data-centric approach to vessel and strategic operations.

Steinsvik Group and Aqualine – collaborating on future solutions

Aqualine is a R&D cage system supplier of cages,

DNV GL supports acquisition of UK’s largest feed-in-tariff wind portfolio

Ventus is the UK’s largest portfolio of feed-in-tariff wind turbines,

- Poor safety for passengers on ships

"It is a dilemma that the crew on ships have survival suits,

YETI Demonstration of driverless Snow Sweepers

The project was started as an innovation project by Avinor three years ago.

Prototech with hardware delivery to the climate observatory ASIM at the International Space Station

While the first stage of the booster was ejected,