Statoil Signs Arctic Deal With Rosneft

From Wall Street Journal

Norway’s Statoil ASA on Saturday signed a deal with Russian state oil company OAO Rosneft to develop Russia’s mostly untapped offshore energy resources in the Arctic, in a venture that could require an investment of as much as $100 billion over decades.

Statoil joined U.S.-based Exxon Mobil Corp. and Italy’s Eni SpA, which have signed similar deals, in the scramble for the Russian Arctic, following Moscow’s approval of long-awaited tax breaks for the potentially rich offshore fields.

Click here to read more

© 2013 Energy Tribune

Scroll to top