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Home* News and Stories → Russian-Norwegian oil cooperation in the northern Barents Sea

Russian-Norwegian oil cooperation in the northern Barents Sea

In early May, the Norwegian Statoil and the Russian Rosneft have signed a contract in Moscow in the presence of prime minister (now president) Putin to jointly explore and exploit the Perseyevsky oil field in the Russian sector of the northern Barents Sea. The Perseyevsky field ist east of Spitsbergen, westsouthwest of Franz Josef Land. The economic potential is believed to be near 35-40 billion US-$. The sea is 150-250 metres deep and regularly covered with seasonal drift ice.

Seismic explorations are supposed to clarify the geological structures over the next years. The first explorative drilling is planned for 2020.

The contract also includes Norwegian-Russian cooperation for several oil- and gas fields in Russia’s far east. In return, Rosneft will get engaged in Norwegian activities in the North Sea and the Norwegian sector of the Barents Sea.

Oil platforms in the North Sea. Views similar to this one will get more and more common also in the northern Barents Sea.

Russian-Norwegian oil cooperation: Oil platforms

Source: Barentsobserver

last modification: 2014-07-01 · copyright: Rolf Stange