Russian ministry drafts continental shelf development strategy

Publish date: January 30, 2006

The Russian Natural Resources Ministry has drafted a research and development strategy for oil and natural gas resources on Russia's continental shelf, Minister Yury Trutnev said.

Trutnev told Norwegian Minister of Petroleum and Energy Odd Roger Enoksen that first tenders for sectors of Russia’s continental shelf (four in the Barents Sea and two in the Sea of Okhotsk) would be held three months after the new mineral extraction law comes into force, RIA Novosti.

“We welcome Norwegian companies’ interest in oil and gas projects in Russia,” Trutnev said. Norwegian companies have the experience and advanced technology needed for work in far north seas, he said. Enoksen said his country “would welcome contributions from Russian companies in Norwegian continental shelf development projects.”

The sides also agreed on the necessity of a swift demarcation of the disputed sector of the Barents Sea, in order to progress with bilateral cooperation in the area.