BP wants share of Russia’s Arctic oil
BP offers its High North experience and technology in order to be allowed into the Russian Arctic to explore and produce oil and gas.
BP CEO Tony Hayward was quoted by RIA-Novosti at a Moscow meeting Thursday saying “we would certainly welcome the opportunity to deploy our technology and skills to explore and produce Arctic resources in Russia as well.”
The British oil major BP is present in Russia today through TNK-BP, a 50-50 joint venture with four Russian billionaires. The TNK-BP share accounts for about a quarter of BP’s global oil output.
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Russian companies have limited knowhow regarding Arctic off-shore oil- and gas production.
