The signed document is valid for three years and will replace the 2005 MoU between Gazprom, Statoil and Hydro.
The partnership between Gazprom and StatoilHydro is based on long-term experience and technologies possessed by our companies, said Gazprom Management Committee Chairman, Alexei Miller.
The development of the Shtokman field will become a starting point for the development of Arctic hydrocarbon reserves, a catalyst for the design and adaptation of technologies, which will help our companies operate well in harsh northern climatic conditions. Rich offshore resources of the Arctic as well as experience of Gazprom in implementation of major energy projects open dazzling possibilities for further development of our large-scale partnership, said StatoilHydro President and Chief Executive Officer, Helge Lund.
The signing of a new Memorandum demonstrates the continuity and long-term relations between StatoilHydro and Gazprom. Norway and Russia are strategic partners in the North, sharing opportunities and responsibilities in the Arctic region, Helge Lund said.
