Finance & Investing
News Services
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy


Shell, Gazprom to Sign Arctic Agreement

change text size
Shell, Gazprom to Sign Arctic Agreement

MOSCOW - Royal Dutch Shell PLC will sign a framework agreement Monday to partner Russia's OAO Gazprom Neft on projects on Russia's Arctic shelf, a person familiar with the matter said Friday, becoming the latest international major to seek access to potentially vast but hard-to-recover resources in the region. 

The deal will be signed Monday during a visit to the Netherlands by Russian President Vladimir Putin, the person said, without giving further details. 

Shell is already a partner of Gazprom Neft's parent company, OAO Gazprom, on the Pacific Sakhalin-2 project, and is also working with Gazprom Neft on developing oil resources onshore. 

Gazprom and OAO Rosneft, which are both state-controlled, are the only firms allowed to lead projects on Russia's Arctic shelf. Rosneft is partnering with Exxon Mobil Corp., Italy's Eni SpA and Norway's Statoil ASA. 

Shell's attempts to explore the U.S. Arctic have been marred by problems. 

A spokeswoman for Shell didn't immediately respond to a request for comment.

Copyright (c) 2012 Dow Jones & Company, Inc.


Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Most Popular Articles
From the Career Center
Jobs that may interest you
Technical Sales Engineer
Expertise: Business Development|Reservoir Engineering
Location: 11111 Richmond Avenue Suite 142, Houston, TX
Business Development Manager
Expertise: Business Development|Reservoir Engineering
Location: Houston, TX
Director Of Business Development
Expertise: Business Development|Project Controls
Location: Houston, TX
search for more jobs