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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.

Over the last couple of years, a number of oil specialists from StatoilHydro and Total have been in Arkhangelsk to hold lectures at the Arkhangelsk Technical University’s Institute of Oil and Gas. The institute is seen as a strategically important institution for training of experts to international projects in the Barents Sea.

The Bovanenkovskoe field

Governor of the Komi Republic Vladimir Torlopov today met with Gazprom Deputy Chairman Valerii Golubyov to discuss the implementation of the Bovanenkovskoe-Ukhta pipeline. The 1100 km long pipeline will by 2011 transport an annual 115 billion cubic meters of gas from the Yamal Peninsula towards European importers.

Photo: Hammerfest Turist AS

The northern Norwegian town of Hammerfest has experienced a turn from recession to growth and optimism, due to the development of the Snøhvit gas-field in the Barents Sea.

Gazprom headquarters

Russia’s energy giant Gazprom will over the next three years invest 34 billion USD. Most of it will be in new pipelines and in the development of the Bovanenkovo field in Yamal.

The Shtokman field

The Shtokman Development Company will in 2008 and 2009 spend more than 800 million USD on studies of the Shtokman field, a company representative said yesterday.

Goliat Platform

ENI Norway upholds its decision not to land the oil from the “Goliat” oil field. All production phases will be made at sea.

StatoilHydro, Barents Sea

None of the new hydrocarbon findings made by StatoilHydro in the Barents Sea are big enough for the development of new infrastructure. In the course of the year, the company might reconsider its activities in the area.

Photo: sovcomflot.ru

The Sovcomflot company plans to sign a contract with the Admiralty shipyard in Sankt Petersburg about the construction of the first ever Russian LNG carrier.

The Norwegian Labour party in its annual congress this week decided to postpone its official party decision on whether to open up for oil and gas exploration in the Lofoten and Vesterålen area. Some say that the powerful party inevitably will say yes to petroleum activity in the area.

Russian gas

Russian industrial gas consumption the first 20 days of May dropped 13 percent year on year, Interfax reports.

The Nord Stream pipeline

Gazprom might in the course of June issue a 24 billion EUR guarantee for the Nord Stream project. Meanwhile, skeptics believe Sweden and Finland will not give their necessary approval of the plans.

The Yamal Peninsula

Gazprom’s oil unit, Gazprom Neft, is likely to take over the license to the Novoportskoe oil and condensate field in Yamal, Gazprom deputy head Aleksandr Ananenkov confirmed this week.

Illustration: sevmorneftegaz.ru

Gazprom writes in a Eurobond memorandum that the timeline for the development phase of the Shtokman-field may be revised accordingly to reflect natural gas market conditions.