Statoil secures strategic alliance with Rosneft in Russian exploration, gaining a 33.33% stake in four offshore arctic exploration blocks

Statoil's strategic partnership with Rosneft in Russian exploration is the third such partnership to be signed between the Russian NOC and a Major. It follows similar alliances with ExxonMobil and Eni signed in August 2011 and April 2012 respectively. Statoil and Rosneft will work together on frontier offshore exploration in the Barents Sea and the Sea of Okhotsk. The alliance will enable Statoil to take 33.3% stakes in four blocks on the Arctic and Far Eastern shelves of Russia. ...