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

- Worst case scenario is no resources in the area, says Professor Jan Inge Faleide at the Institute of Geology at the University of Oslo.

The South Tambey field, Yamal Peninsula

French oil major Total signs agreement with Novatek on the development of the Yamal LNG project, thus becoming the by far biggest foreign investor in the Russian Arctic.

Will invest €360 million in building and modernization to increase electricity production.

Lukoil`s Varandey terminal (photo:

Practically all new field operators in the oil-rich Timan Pechora province intend to take use of Lukoil’s Varandey offshore terminal. That will boost oil shipping in the Barents Sea.


The city of Tromsø wants to build a permanent base for oil and gas operations in the Arctic.

The Shtokman field in the Barents Sea

The Shtokman project is part of Gazprom´s record-breaking four trillion ruble investment program for the period 2012-2014.

The Kumzha field (photo:

The energy giant looks towards the Timan Pechora province.

The Shtokman partners once again postpone the final investment decision.

Statoil and Eni’s deals with Rosneft mark the start of a new industrial era in the Barents Sea.

We are working intensively to bring down the costs of the Shtokman project, a representative of Statoil says, adding that the project final investment decision can not be expected before the end of this year.

Statoil awards Technip to build world’s largest Spar platform for the Aasta Hansteen field outside the coast of northern-Norway. Production start-up is at the end of 2016.

The operator of the Goliat oil field in the Barents Sea experiences delays and surging costs.

Arktikmorneftegazrazvedka takes legal actions to prove that the towing of the “Kolskaya” rig was done without any violations. 53 people died when the platform overturned and sank in December 2011.