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 August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Maritime Security

USCG Cutter FIR Participates in Puget Sound Oil Spill Exercise

The crew of Coast Guard Cutter Fir, a 225-foot buoy tender homeported in Astoria, Oregon, participated in a Spilled Oil Response System exercise near Blake Island, Washington, Wednesday.

AN/SPY-1 SSSA Completes Critical Design Review

The Critical Design Review (CDR) stage for AN/SPY-1 radar Solid-State Switch Assembly (SSSA)'s high voltage modulator completed Aug. 26, confirming that the

TESSCO Installs Chesapeake Bay Police Boat Video System

Leading networking company, TESSCO Technologies Incorporated, informs it has worked closely with the Maryland Department of Natural Resources (DNR) to successfully implement,

News

USCG Cutter FIR Participates in Puget Sound Oil Spill Exercise

The crew of Coast Guard Cutter Fir, a 225-foot buoy tender homeported in Astoria, Oregon, participated in a Spilled Oil Response System exercise near Blake Island, Washington, Wednesday.

AN/SPY-1 SSSA Completes Critical Design Review

The Critical Design Review (CDR) stage for AN/SPY-1 radar Solid-State Switch Assembly (SSSA)'s high voltage modulator completed Aug. 26, confirming that the

Gazprom Supplying Gas to Europe as Contracted

Alexey Miller reported to Vladimir Putin that European consumers were receiving gas supplies entirely in line with contractual obligations. The total accumulated

Government Update

Gazprom Supplying Gas to Europe as Contracted

Alexey Miller reported to Vladimir Putin that European consumers were receiving gas supplies entirely in line with contractual obligations. The total accumulated

ClassNK Issues New Rules for Inland Waterway Ships

Leading classification society ClassNK has released new technical rules and guidance for the survey and construction of inland waterway ships. As a result

Finland Grants Support to Three Small LNG Terminals

The Finnish government granted 65.2 million euros (84.22 million US dollar) in subsidies to build three small liquefied natural gas (LNG) terminals to cut on use

Arctic Operations

Upcoming Expo 'Offshore Marintec Russia'

ExpoForum Convention and Exhibition Centre in St. Petersburg, October 7-10  will host the International Specialised Offshore Exhibition and Conference 'Offshore

World’s Largest Iceberg Continues to Break Apart

The United States National Ice Center (NIC) named three new icebergs after a previous iceberg B15T broke into four pieces. B15T remains, while the resultant icebergs are named B15Z, B15AA and B15AB.

Arctic Wreck Found after 169 Years

After more than 169 years, Canadian researchers discovered one of the two ships from the doomed Arctic expedition of Sir John Franklin, cracking one of the largest mysteries in sea exploration.

Offshore Energy

LQT Delivers Accommodation Facility and Helideck in Gulf of Mexico

LQT Industries , a full-service provider of accommodation facilities, design-build construction services, and support services to the oil and gas industry, has

Ricardo to Support Kongsberg WFMS Development

Ricardo and Kongsberg have signed a framework agreement that will see Ricardo support the development of the Kongsberg Wind Farm Management System (WFMS) as well

Aiming to Make Less Fuel Go Further: Maersk Drilling

Maersk Drilling says it is engaged in an energy efficiency project for its newbuilds together with Maersk Maritime Technology. The project involves an Energy Management System (MSPS),

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar
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: 0.1288 sec (8 req/sec)