Statoil may cancel cooperation with Rosneft, as part of the sanctions of EU and USA against the Russian company. The Norwegian oil and gas company states that now they continue the cooperation with the Russian oil giant, but the local authorities insist for implementation of the sanctions. Statoil is in constant dialogue with the authorities in order to obtain authorization to continue cooperation on various fronts with the Russian company. To date part of our joint projects with Rosneft has already been completed, including surveys in the Barents and Okhotsk Sea, while others are still in the earliest stages of development, stated from Statoil.
Statoil refused to answer the question of how joint projects between the two companies may affect the current situation of the oil markets. The cooperation agreement between Rosneft and Statoil includes studies on the Norwegian shelf, and joint projects in the Russian part of the Barents Sea (Perseevskata area) and in the Sea of Okhotsk (Kashevarovska and Lisyanska areas). The contact was signed in May 2012 and according to the plans between 2016 and 2021 in these areas will be implemented six exploratory drilling.
In 2013 Statoil acquired the right to long-term joint development in the Norwegian part of the Barents Sea shelf. In addition, the partners intend to jointly acquire shale oil in the Samara region.