Hydro signs agreement with Murmansk

Publish date: November 18, 2005

Norwegian oil and gas giant Hydro and the Administration of the Murmansk Region have signed a memorandum of understanding.

Hydro has already participated in several projects in Murmansk and has also announced its plans to open a representative office in Murmansk in the beginning of 2006, as well as a Centere for Higher Qualifications for the regional oil and gas industry. The company plans participation in several social-related projects in the region.

The investments in Murmansk must be considered as a part of Hydro’s positioning in the Russian oil and gas market, especially with regard to the huge Shtokman gas field, the BarentsObserver reported.