Russians drilling giant Shtokman field with Norsk Hydro

OAO Gazprom has begun exploratory drilling in the giant Shtokman field in the central part of the Russian sector of the Barents Sea with Norway’s Norsk Hydro ASA.Russia has had short-term agreements with an assortment of foreign companies for more than 15 years, but is expected to announce long-term partners for the Shtokman project later this year. Two Norwegian companies, Norsk Hydro and Statoil ASA, appear to be front-runners, although Italy’s Eni SPA is in eleventh-hour discussions to take on part of the project.Norway and Russia have shared ideas on Arctic development for the last 4 years at annual INTSOK meetings alternating between Stavanger and Moscow. The most recent ...

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