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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.

Offshore drilling

-The unsettled border did not allow us to engage in grand energy projects in the Barents Sea, President Dmitry Medvedev said in yesterday’s press conference in Murmansk. Now, with the delimitation of the Arctic waters, the road lies open for Russian-Norwegian joint ventures in the area.

Timano-Pechora province (Barentsphoto.com)

The Russian oil company OAO Bashneft had the highest bid for the two oil fields Titov and Trebs in the Nenets Autonomous Okrug.

Photo: Gazprom-neft.ru

Russia’s fifth biggest oil company, Gazprom Neft, is preparing bids for four big fields in the Pechora Sea and the Kara Sea, the company confirms.

The "Amazon" (photo: gazflot.ru)

Gazprom-subsidiary Gazflot will start exploration drilling in the waters outside the Yamal Peninsula this summer.

Lukoil headquarter in Naryan-Mar in Nenets Autonomus Okrug.

Development deal for the giant oil fields Trebs and Titov could be signed soon between Bashneft and LUKoil.

The semisubmersible rig West Phonix drills the northern Barents Sea.

One of the northernmost oil-drillings ever in the Arctic started this week, 250 kilometers of the coast of Finnmark. The only oil-company based in the Barents Region is partner.

Rosneft in the Arctic

State-owned Rosneft is preparing for the exploration of the company’s blocks in the Kara Sea and the Barents Sea.

Dmitry Dmitriyenko (BarentsObserver.com)

Severomorsk and several other coastal towns in the Kola Peninsula will from 2012 get LNG as new heating source.

Oil company Lukoil

The first Russian oil company pre-qualified for operations on the Norwegian shelf is opening an office in Norway.

Gazprom might delay the first oil from its Prirazlomnoye project until the Russian Government comes up with a resolution on tax breaks on Arctic offshore oilfields.

Gazprom Neft platform Prirazlomnoye

Net profit for 2011 jumps 35 percent to €34 billion following increased sales and higher prices.

President Vladimir Putin urges partners in the Shtokman gas project to speed up a final investment decision.

The configuration of the Shtokman project will be changed – that is for sure, says Gazprom Deputy Aleksandr Medvedev. The current shareholder agreement of the Shtokman Development AG runs out on 1 July