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Tripartite deal on far north

June 20, 2005, 17:25 CEST

A general collaboration to identify oil and gas resources in the far north and develop technology for petroleum activities in the region has been agreed by Russia’s Gazprom, Hydro and Statoil.

This deal was signed in Moscow on 20 June during an official visit by Norwegian prime minister Kjell Magne Bondevik.

The three signatories want to use the agreement to establish closer cooperation on mapping petroleum resources in the far north.

They also give weight to identifying key environmental considerations as well as facilitating the development of technological solutions for petroleum operations in the region.

Their collaboration will aim to define common standards for health, safety and the environment in the far north, as well as methods for conducting environmental impact assessments.

In addition, the three companies will work to identify which requirements will be posed by future activities in these waters for technology and for facilitating Russian deliveries.

Exchange and training of personnel and closer technological cooperation will be established between the partners.

This work will be headed by a joint steering committee, with representatives from each of the companies.