Murmansk governor visits Hydro in Bergen

March 30, 2006, 10:00 CEST

County governor of Murmansk, Yurij Evdokimov, paid a visit to Hydro's Research Center at Sandsli in Bergen on Wednesday. The meeting was staged as part of the ongoing cooperation between Hydro and the Murmansk region.

The Murmansk delegation was welcomed by the head of Hydro's Shtokman project Bengt Lie Hansen, head of Hydro's Moscow office Petter Nore, senior vice president Harald Martinsen of Aluminium and Benedikt Henriksen, who is responsible for Hydro's supplier development program.

"We are delighted to welcome Mr. Evdokimov and his party to the operational headquarters of Hydro's oil and gas activities on the Norwegian continental shelf. Hydro at Sandsli, including the Research Center, represents a vitally important part of the operational and technological offshore expertise Hydro has built up on the Norwegian continental shelf over several decades," said Lie Hansen.

Hydro would like to see the company's experience and expertise making a positive impact on the development of Murmansk, which now stands on the threshold to an offshore upswing similar to the one Norway entered into more than 30 years ago.

"Hydro takes a long-term view in Russia. We've been doing business in the country for more than 50 years and our Moscow office has been engaged in business development in the energy and aluminium sectors for 17 years. The county governor's visit of is part of the ongoing cooperation between Hydro and the Murmansk region," said Nore.


Murmansk smelter feasibility discussed
Hydro and the Murmansk delegation also held talks regarding the Letter of Intent relating to the development of suppliers in the region. The possibility of carrying out a feasibility study for an aluminium plant in Murmansk was also discussed.

"Hydro is both an energy and aluminium company, and it is therefore natural for us to look for synergies wherever possible. Hydro's approach in Russia is a long-term one and the company wishes to engage in oil and gas actitivies in the North West of the country. We are now considering a feasibility study to see how gas from the Barents Sea might be utilized to power an aluminum plant in Murmansk," added Lie Hansen.

Hydro currently has a representative office in Murmansk that will function as the company's base assisting the drilling of appraisal well 7 on Shtokman. The company has also set up supplier centers in Murmansk and Arkhangelsk to support the supplier development program Hydro has conducted in northwestern Russia during the past three years.