Working Group to Explore Russian Oil Prospects

A working group to evaluate exploration and production projects in Russia and other countries has been set up by Russian company Gazprom Neft and Norwegian oil company Statoil.

Organised under a Memorandum of Understanding signed in April 2007, the working group aims to seize new global business opportunities while maximising efficiency by using complementary technologies.

Statoil says it is contributing to the cooperation through leading offshore technology exploration, Artic developments and large-scale projects such as the Snøvit field development in the Barants Sea.