facebook
twitter
search
search

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.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Topics: Gazprom Neft
Latest Headlines
Top Stories
B-52 bombers demo long reach of U.S. air power
Army orders tactical trucks from Oshkosh
Reddit CEO Ellen Pao offers to improve communication in wake of firing scandal
Raytheon wins IDIQ contract for Army sensor systems
Oil markets hammered by Greece, Iran and China