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


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

Report summary

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. ...

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Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

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