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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.

Andrei Nelidov (photo: gov.karelia.ru)

In his New Year’s address to the region, Head of the Republic of Karelia Andrei Nelidov outlined a radical turn in the region’s energy policy.

Map: BarentsObserver

Oil company BP shows interest in establishing a base for Arctic operations in Murmansk.

Varandey terminal in the ice.

New pipeline could be built to increase shipment from Varandey terminal.

Knut Nilsen from Troms Kraft at the Energy Efficency seminar in Syktyvkar.

- Despite the differences in on- and off shore extraction in Norway and Komi, we share thematic challenges in terms of environmental and social responsibilities, said Anton Fridman, Minister of Industry and Energy of the Komi Republic, at a seminar last week in Syktyvkar.

Gazprom is boosting its investment budget for the Arctic.

A revised investment programme shows that Gazprom this year ups investments with almost 50 percent to a record-beating 1,27 trillion RUB (29 billion EUR).

The Bovanenkovskoe field (map by Gazprom.ru)

Gazprom will start production at its huge Arctic field of Bovanenkovo in May 2012.

In the very near future we will conduct test sailing with LNG on the Northern Sea Route, Gazprom says.

Deputy Director of Arktikmorneftegazrazvedka, owner of the Kolskya jack-up rig that overturned and sank during towing last December, has been fired after the prosecutors have found that several mistakes were made during the towing operation.

The two companies could invest $35-40 billion in developing fields in the Barents Sea in a new joint-venture where Statoil will get 33,4 percent of the shares, according to the landmark agreement signed in Moscow on Saturday.

Russia’s third biggest oil producer is negotiating with foreign companies over a possible partnership at the Dolginskoye field.

The partner deal between Gazprom, Statoil and Total expired on July 1st, but the bumpy drive to develop the troubled Shtokman project continues.

Desperate oil companies forces day rates for drilling rigs to reach new heights. Analysts believe day rates will be over $700,000 this autumn.

Shipping companies and oilmen carefully follow this week’s operations of the 47 thousand ton tanker “Neva” in the Ob Bay.