Gazprom, Shell Sign Deal To Develop Arctic Oil Plays

Law360, New York (April 10, 2013, 2:03 PM EDT) -- Russian oil giant OAO Gazprom has inked a joint venture agreement with Royal Dutch Shell PLC to explore and develop oil shale resources in both deepwater and onshore fields in the Russian Arctic region, Gazprom announced Tuesday.

Gazprom Chairman Alexey Miller and Shell Chairman Jorma Ollila signed the memorandum of understanding at a ceremony in Amsterdam that also included Russian President Vladimir Putin and Dutch Prime Minister Mark Rutte. The MOU calls for Shell to assist Gazprom in hydrocarbon exploration and development in the Arctic shelf...
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