MOSCOW (Reuters) - Norway's Statoil will drill in Russian Arctic waters thought to contain 2 billion metric tons (2.20 billion tons) of oil in partnership with Rosneft, marking the third deal of its kind for the Russian state company.
Norway's Statoil will drill in Russian Arctic waters thought to contain 2 billion metric tons of oil in partnership with Rosneft, marking the third deal of its kind for the Russian state company. The agreement, ...
Lundin Petroleum AB, the Swedish explorer focused on Norway, said there won’t be any new oil output in the ice-filled waters of the Arctic for at least 15 years because of technical and logistical challenges.
“I don’t think we’ll see any oil production in the Arctic any time soon — probably not this decade and not the next,” Chairman Ian Lundin said in a Feb. 20 interview in Stockholm. “The commercial challenges are too big.”
“No other oil/gas pipeline of this dimension has ever been laid this deep before”
OSLO — Norway’s energy industry shifted its focus further north as oil and gas companies on Tuesday announced over US$10-billion worth of projects in the Arctic to extract and transport offshore natural gas.
As Barack Obama and Vladimir Putin argue over human rights in Russia and the fate of fugitive U.S. intelligence analyst Edward Snowden, the countries’ biggest oil companies are preparing to drill for giant oil discoveries together in the Arctic Ocean.
By Craig Pirrong: Very interesting of juxtaposition of stories involving Norway and Russia (h/t R).Story one-Norway's Statoil and Russia's Rosneft agree to exploration joint ventures in the Russian Arctic: