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 Norwegian Petroleum Directorate’s resource accounts, which are updated as of 31 December 2013, show that the total recoverable petroleum resources on the Norwegian shelf are estimated at 14.2 billion standard cubic meters (Sm3) of oil equivalents (o.e.).
Developments in Ukraine could result in delays in the Yamal LNG project, leader of French oil company Total admits. At the same time, leading French engineering company Technip announces the landing of a major new contract in the grand Arctic project.
The Prirazlomnaya platform is packed with Norwegian technology and is likely to soon feel the consequences of the western export ban on oil and gas equipment.
The Russian Government allocates another 24 billion rubles to construction of Port of Sabetta on the Yamal Peninsula, thus securing total financing of the near 100 billion ruble project.
The Russian presidential administration supports opening the Arctic shelf for private companies. This could open up for Russia’s biggest private oil producer Lukoil.
