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

Maritime Security

US Must Exercise Freedom of Navigation in Asia-Pacific -Navy Commander

The commander of U.S. forces in the Pacific said on Friday the United States must carry out freedom of navigation patrols throughout the Asia Pacific, but declined

China Opposed to Parties Entering 'territorial' Waters

China's Foreign Ministry said on Friday it was against parties entering territorial waters in the name of freedom of navigation, as the United States is considering

Approvals Launch VIKING Nadiro into New Markets

New lifeboat release systems and bracket type approvals for VIKING Nadiro SOLAS products are extending the company’s core capabilities beyond cargo to offshore


US Shipowner Creates Fund for Families of Missing El Faro Crew

The owners of the cargo ship El Faro that sank after it was trapped in the path of Hurricane Joaquin off the Bahamas last week announced the creation of a family

Coast Guard Foundation Raises $250,000 for Scholarships

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Newport News Shipbuilding Converts to Natural Gas

Huntington Ingalls Industries (HII) announced today that its Newport News Shipbuilding division has converted its steam-generation plant from heavy fuel oil, also known as Bunker C,

Government Update

US Must Exercise Freedom of Navigation in Asia-Pacific -Navy Commander

The commander of U.S. forces in the Pacific said on Friday the United States must carry out freedom of navigation patrols throughout the Asia Pacific, but declined

AWO Calls on Congress for Vessel Discharges Bill

A federal appeals court ruling handed down this week underscores the urgent need for Congress to pass the Vessel Incidental Discharge Act (VIDA) and establish a

House Passes Bill to Repeal US Oil Export Ban, Veto Looms

The U.S. House of Representatives passed a bill on Friday to overturn the 40-year-old ban on oil exports, but the measure did not get enough support to overturn any veto by President Barack Obama,

Arctic Operations

Wärtsilä 31 Engine for Aker ARC 124 Icebreaker

The recently introduced Wärtsilä 31 engine, which has been acknowledged by Guinness World Records as being the world's most efficient four-stroke diesel engine,

Eni Arctic Service Rig Extension Okayed

Italian oil company Eni has received permission from Norway's Petroleum Safety Authority to extend the use of a service rig on its troubled Arctic Goliat oil field offshore Norway until Nov.

Northern Fleet to Conduct Anti-terrorist Exercises

The sailors of the Northern Fleet will conduct anti-terrorism exercises at Novaya Zemlya. During the exercise, the coast will be a landing. The landing will

Offshore Energy

US Senators Introduce Bill to Limit Offshore Drilling

A group of U.S. Senators on the West Coast have introduced a bill Wednesday aiming to prohibit offshore drilling on the outer continental shelf of California, Oregon and Washington.

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more

Oil Spill Statfjord North Sea Field - Statoil

Loading of tankers suspended, unclear when it will resume. Oil spilled into the North Sea during the loading of a tanker at Norway's Statfjord field on Thursday, operator Statoil said.

Maritime Security Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1617 sec (6 req/sec)