Statoil to collaborate with Gazprom

Statoil and Gazprom Neft have established a working group to evaluate the potential for joint exploration and production projects in Russia and elsewhere.

Offshore staff

STAVANGER, Norway --Statoil and Gazprom Neft have established a working group to evaluate the potential for joint exploration and production projects in Russia and elsewhere.

This follows the signing of a Memorandum of Understanding by senior representatives of the two companies in April. According to Gazprom Neft's president, Alexander Dyukov, the agreement will allow the partners to exchange expertise in oil exploration and production areas.

Statoil Russia's president Kristoffer Maro said his company's main contribution would be its Arctic offshore technology, developed through exploration in the Barents Sea and execution of large-scale gasfield projects such as Snohvit.

06/05/2007

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