Gazprom, Shell, reach deal on Arctic Shelf

April 9, 2013 at 7:41 AM

AMSTERDAM, Netherlands, April 9 (UPI) -- Russian gas giant Gazprom and Royal Dutch Shell in Amsterdam have signed a memorandum of understanding that outlines joint exploration of the Russian Arctic.

RIA Novosti reported Tuesday Royal Dutch Shell also signed a tentative agreement with Gazprom Neft, which is Gazprom's oil division.

That deal outlines a cooperative effort for shale oil exploration and development in Russia, most of which is in West Siberia in deposits more than a mile underground.

The deals were signed following a meeting in Amsterdam between Russian President Vladimir Putin and Dutch Prime Minister Mark Rutte, RIA Novosti reported.

Related UPI Stories
Topics: Gazprom Neft
Latest Headlines
Trending Stories
Police: 2 shot, 1 dead near Texas Southern University
Listeria threat prompts Whole Foods cheese recall
Russia says missiles aimed at Syria did not land in Iran
Captive orca breeding banned at California's SeaWorld
Wrong drug used in Oklahoma execution