Russia Buys Foreign Expertise To Unlock Arctic, Shale Plays

Law360, New York (August 30, 2012, 7:32 PM ET) -- Russia's thirst for drilling technologies to unlock Arctic oil fields and Siberian shale reserves is creating unlikely bedfellows as the country continues to partner with foreign firms, swapping project equity for expertise as it hustles to remain the world's biggest oil producer.

Rosneft OAO on Thursday advanced a partnership with Norway's Statoil ASA to drill four jointly held exploration licenses in the Barents and Okhotsk seas. Statoil, a 33.33 percent partner, will shoulder all costs for the exploration phase, which includes six wildcat wells by 2021,...
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