Сonstruction works on the centrepiece of the huge oil and gas Sakhalin II development - the LNG plant - are nearing completion.
StatoilHydro Petroleum AS, as operator of exploration licence 394, has completed drilling of exploration well 7224/6-1 in the Barents Sea.
Untold riches are concentrated at the North Pole. Recently the U.S Geological Survey published the first national evaluation of the mineral resources of this region.
OPEC’s General Secretary, Abdalla El-Badri met with Russian President Dmitry Medvedev in Moscow Wednesday. In speaking with Oil&Gas Eurasia at a conference preceding his meeting with the Russian president, El-Badri said his Kremlin visit was a first-ever official meeting between an OPEC General Secretary and a Russian President.
Russia's Gazprom is considering U.S. majors Exxon Mobil and ConocoPhillips for its liquefied natural gas (LNG) projects in Russia's Arctic Yamal region, its deputy chairman said on Tuesday.
Alexander Medvedev also said Conoco could gain access to gas deposits in Yamal in exchange for Russian gas export monopoly Gazprom joining gas projects in Alaska.