Gazprom and Statoil Sign Sci-Tech Agreement

June 22, 2010 • Philip BurgessBlog

The two Shtokman partners to expand cooperation through a sci-tech cooperation program.

Today within the framework of the St. Petersburg International Economic Forum 2010 Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Peter Mellbye, Executive Vice President of Statoil signed an Agreement on Scientific and Technical Cooperation.

Pursuant to the Agreement, the parties will in such areas as geological exploration and development of hydrocarbon fields; hydrocarbons production and treatment before transportation; technologies and equipment for the hydrocarbons transportation; environmental protection of the Northern seas and territories; Health, Safety and Environment issues under northern conditions; energy saving; renewable energy sources; gas processing; project management and corporate governance.

According to the document Gazprom and Statoil will compile a Sci-Tech Cooperation Program to be adjusted every 1 to 3 years for the purpose of joint efforts coordination.

Background

Gazprom and Statoil are partners in Phase 1 of the Shtokman gas and condensate field development.

In June 2009, Gazprom and Statoil signed the Memorandum of Understanding. The document provides for joint activities of the companies in the area of exploration, development and production of hydrocarbon resources in northern regions.