Competition between Statoil and Hydro is favorable for Arkhangelsk

Publish date: March 24, 2006

According to a Head of the Arkhangelsk Department of Economic Development, Yevgenii Mikhailovskii, a competition between the two Norwegian petroleum companies Hydro and Statoil has favorable effects in the Arkhangelsk region.

The two companies support different contractor development centers in the city and both fight for a stake in the Shtokman gas project in the Barents Seaб BarentsObserver reported. “No doubt, our port is at disadvantage in comparison with the one in Murmansk, that’s why it is very important for us to attract these companies to Arkhangelsk”, Mikhailovskii explained.

Statoil and Hydro opened their centers "Sozvezdiye" and "Intershelf" on respectively 13 and 21 February. These are the companies’ respective centers for training local companies to become suppliers in regional petroleum projects. The"Sozvezdiye" center is officially owned by the Arkhangelsk regional administration.