The Memorandum provides for conducting 6 months joint studies of the following projects:
To control the course of studies a trilateral Management Committee and a Working Group will be established.
"The Memorandum signed today opens a new page in our cooperation with Statoil. We have giant gas reserves offshore Barents Sea and Statoil has LNG production and transportation experience and market access to the North American market, which is strategically important for us. By joining forces for studying these promising projects we will be able to achieve good results" - Alexey Miller said after signing the Memorandum.
"The Arctic offshore has been and remains a region of strategic interests for Rosneft. We consider this beginning of close cooperation with Statoil in the Barents Sea as an important step forward for a commercial development of the giant oil and gas reserves in this region" - Sergey Bogdanchikov pointed out.
"Statoil sees the Barents Region as a natural growth area for Statoil. We look forward to a fruitful long-term cooperation with Gazprom and Rosneft, initially focusing on sharing with them our experience from the development of the Sn°hvit LNG project and our ability to market this gas in North America" - Helge Lund underlined.
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