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.
There’s nothing new about placing bets on horse races or sports teams. But now, thanks to a program called WellBet, people can try their luck at betting on oil and gas exploration on the Norwegian continental shelf.
Drilling has begun at the Bjaaland prospect in the Barents Sea, southeast of Bear Island, after the Norwegian government rejected a recent complaint from Greenpeace about the proposed well.
Russia believes Norway is violating the Svalbard Treaty when the Norwegian government opens three blocks for oil drilling in the Barents Sea, close to the Arctic archipelago.
Russian state nuclear company Rosatom signs deal on construction of an icebreaker for the Yamal LNG project.
The oil company will this year spend 764 million rubles (€13,2 million) on seismic mapping in the Kara Sea.
Low oil prices triggers cross-companies cooperation to develop cost-effective solutions for new areas north of mainland Norway.
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”).