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
Compact cannon for British armored vehicles
Volvo unveils new child seat concept
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules