Russia is top priority for Statoil

Publish date: November 14, 2005

The Statoil management confirms Russia to be among the company's main investment areas in the years to come.

According to the chief of Statoil Russia, Kristoffer Marø, Statoil could extract as much as 200,000 tons oil in Russia by 2020. “We believe Russia will become one of the most important production areas outside Norway”, Marø stresses. Marø spoke at a conference in London this week. He refused to name potential partners, but said good relations had been developed with Russian state-owned oil leader Rosneft and with gas leader Gazprom, RusEnergy informs.