Ola Borten Boe News

Russian Companies Get Norwegian Arctic Offshore Licenses

Both Rosneft and Lukoil have secured license rights to blocks issued by the Norwegian government in Arctic waters. The massive opening of the Barents Sea for the oil industry includes invitations to Russia’s two powerful Russian petroleum companies, the first ever Russian companies on the Norwegian shelf, reports the 'Barents Observer'. Citing an announcement made by Minister of Petroleum and Energy Ola Borten Boe, Barents Observer says that Rosneft and its Norwegian subsidiary RN Nordic gets 20 percent of one license in the Barents Sea.