Russia Sanctions Could Slow Norwegian Arctic Exploration

Posted by Michelle Howard
Wednesday, August 20, 2014

Western sanctions against Russia may slow down exploration for oil and gas on both the Norwegian and Russian side of the Arctic Barents Sea, lobby group Norwegian Oil & Gas told Reuters on Wednesday.

"We have many members working on both sides of the border, where coordination of fields will be a key topic. Collection of seismic and other joint activities may be affected," said the group's head of legal affairs, Oluf Bjoerndal.

The association represents oil firms, including most supermajors, as well as some of the world's biggest oil and gas service firms.

"We fear that this could become a problem. There's a worry about that. It may mean that some areas aren't explored well enough, that potential discoveries are delayed," he added.

Russia and Norway settled a 40 year border dispute in the Barents in 2010, setting the stage for oil and gas activity in a vast but previously unexplored region of the Arctic.

"Norwegian and Russian companies must coordinate activities. Exchange information and experiences. I fear this may now come to an end," Bjoerndal said.

Russian oil firm Rosneft and Norway's Statoil have an ongoing cooperation over a range of projects.

(Reporting by Joachim Dagenborg, writing by Terje Solsvik, editing by Balazs Koranyi)

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

SAL Heavy Lift Performs Offshore Windfarm Work

MV Lone proves as project platform for Wikinger wind farm   SAL Heavy Lift informs it has completed the second phase of the Wikinger Pile Testing Campaign with DP II Class vessel MV Lone.

Huge Heavy Lift Project Wraps up in Colombia

Mammoet concludes multi-year heavy lifting and transport project for refinery in Cartagena, Colombia   Mammoet USA informs it has completed a heavy lifting and

ABB, Samsung SDI JV to Develop Microgrids Globally

ABB and Samsung SDI have signed a Memorandum of Understanding to promote microgrid solutions globally. The two companies will establish a global commercial alliance

Maritime Security

US Will Work to Ensure Bab-el-Mandeb Strait Remains Open

The U.S. military will work with Gulf and European partners to ensure the strategic Bab el-Mandeb Strait at the tip of the Red Sea remains open to commerce despite fighting and instability in Yemen,

17 Countries for Maritime Security Training in Indonesia

Representatives from 17 countries would take part in the sixth Maritime Security Desktop Exercise that is scheduled to be held in Yogyakarta, Indonesia from March 30 to April 1.

Japan's Navy Unveils De-Facto Aircraft Carrier

Japan's Maritime Self Defense Force (JMSDF) took delivery of its biggest warship Izumo, since World War II, a vessel that observers say is a "de-facto aircraft carrier".

News

Carnival to Add Nine Ships to Cruise Fleet

Carnival Corporation enters into strategic partnerships to add nine cruise ships to its fleet over a four-year period starting in 2019; shipbuilders Fincantieri

Coast Guard Academy Cadet to Receive Fulbright Scholarship

Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies

Ecochlor Presents BWTS Case Study at CMA

Ballast water treatment technology developer Ecochlor Inc. presented a project case study yesterday at CMA Shipping 2015 in Stamford, Conn. The case study covered

Government Update

US Will Work to Ensure Bab-el-Mandeb Strait Remains Open

The U.S. military will work with Gulf and European partners to ensure the strategic Bab el-Mandeb Strait at the tip of the Red Sea remains open to commerce despite fighting and instability in Yemen,

Kenya Ready to Start Work at Northern Port

Kenya is ready to begin work on the first three berths at a long-delayed port on its northern coast, next to the historic trading town of Lamu, President Uhuru

No More State Funds, Russia Warns its Ship Builders

Russian Deputy Prime Minister Dmitry Rogozin came down heavily on country's shipbuilders criticizing them for doing a poor job to implement instructions from the

Arctic Operations

Icebreaker Murmansk Launched at Arctech Helsinki Shipyard

The 16 MW Icebreaker for the Russian Ministry of Transport was launched at Arctech Helsinki Shipyard on March 25th, 2015. Before floating the vessel, she was

Seattle Fears Arctic drilling, Shell Moves Rigs

Shell Oil Co is poised to restart oil drilling in the Arctic in the near future once it receives the go-ahead from the U.S. government, which could happen soon.

Norway Supports Statoil, Rosneft JV

Norwegian authorities have given the Stavanger-based energy giant Statoil the go-ahead on joint projects with Rosneft, a Russian oil titan that was the target of Western sanctions in 2014.

Offshore Energy

SAL Heavy Lift Performs Offshore Windfarm Work

MV Lone proves as project platform for Wikinger wind farm   SAL Heavy Lift informs it has completed the second phase of the Wikinger Pile Testing Campaign with DP II Class vessel MV Lone.

Swiber Gains $405.6 mi Contracts

Business momentum is fast picking up at Swiber Holdings Limited despite the downturn in the oil and gas industry as the Group clinches a total of US$405.6 million for a series of contracts,

Rosneft Cancels Rig Contract

Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the Norwegian offshore driller said.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1383 sec (7 req/sec)