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Statoil did not discover oil in the controversial Apollo well near Bear Island.

Billions are invested in the Zvezda yard outside Vladivostok to make it capable of meeting Russia’s growing demand for ice-protected ships and platforms.

The government proposes the adoption of a Norwegian-style license model for the shelf, but encounters fierce protest from state companies Rosneft and Gazprom.

Oil companies reluctant to invest in the Barents Sea due to low oil price get surprise aid from Petroleum and Energy Minister Tord Lien.

An Ontario company is proposing the idea of small floating nuclear stations to power mining sites and towns in the Arctic.

Russia’s first floating nuclear power station for use in the Arctic will be ready by October 2016.

”This will generate value for the Norwegian people for decades,” says Minister of Petroleum and Energy Tord Lien with the thumb up for Arctic drilling as the Goliat platform arrives Hammerfest.

More companies prepare to engage as the economic crisis pushes through a liberalization of Russian shelf regulations.

State oil company Zarubezhneft considers to bring home the “Deep Venture” (“Valentin Shashin”).

Andrey Patruchev, son of Russia’s powerful Security Council leader, takes over Gazprom Neft’s offshore department.

As Sovcomflot lays down the keel of its new Arctic super-tanker designed for the Yamal LNG, the company’s role in the project is increasingly unclear.

The Russian presidential administration supports opening the Arctic shelf for private companies. This could open up for Russia’s biggest private oil producer Lukoil.

RAAHE: Development Manager Juha Miikkulainen doesn’t think the current disagreements between EU and Moscow will affect Finland’s plans for Pyhäjoki nuclear power plant where Russia’s state nuclear corporation Rosatom is heavily involved.

At an oil price of $60 per barrel, Russia’s only offshore oil-producing field in the Arctic, Prirazlomnaya, is unprofitable even with heavy state support.

Gas production in northern Norwegian waters is steadily making its way. But more discoveries and new infrastructure are needed for the region to become a major supplier to the continent.