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Statoil to drill with Rosneft on Russian shelf

Yahoo -- By Melissa Akin and Vladimir Soldatkin

MOSCOW (Reuters) - Norway's Statoil (STL.OL) will drill in Russian Arctic waters thought to contain 2 billion metric tons (2.20 billion tons) of oil (ROSN.ME) in partnership with Rosneft, marking the third deal of its kind for the Russian state company.

The agreement, signed on Saturday, provided a showcase for president-elect Vladimir Putin, serving out his final days as prime minister before a May 7 inauguration, and Deputy Prime Minister Igor Sechin, in charge of energy and industrial policy.

As a legacy of their time in government, the three deals secure capital and expertise for a push into some of the world's potentially most energy-rich regions.

Rosneft President Eduard Khudainatov said Statoil in turn invited his firm to partner up and bid


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Submitted May 05, 2012 By: mastermariner
Category: Daily News Article Discussions > Topics Add to favorite topics  
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REPLIES (newest first)
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jrs4125
Champion Author Indiana

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Message Posted: May 7, 2012 7:43:10 AM

Expensive oil to deliver.
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wrunner
Champion Author Virginia

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Message Posted: May 6, 2012 6:17:55 AM

Drill very carefully.
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davenles
Champion Author Texas

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Message Posted: May 5, 2012 11:06:59 PM

Oil prices have everyone drilling.
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cdrrod
Champion Author Wisconsin

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Message Posted: May 5, 2012 6:52:26 PM

This will surely help out in Europe!
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ktbaeohana
Champion Author Las Vegas

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Message Posted: May 5, 2012 6:08:14 PM

watch and see.
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