StatoilHydro Signs MoU With Murmansk Oblast Government

Norwegian energy firm StatoilHydro has signed a memorandum of understanding with the government of the Murmansk Oblast, Russia, for cooperation in oil and gas development in the region.

Based upon the previous efforts of both Statoil and Hydro in the region, the agreement has been divided into five main areas of focus, namely industrial and supplier development, university cooperation, social responsibility activities, environmental projects and municipal support.

The company said that working groups with representatives from both StatoilHydro and Murmansk government will start work immediately in order to cooperate on the various elements of the agreement, which has a time frame of three years.

Jonas Store, the Norwegian foreign minister, said: “I am delighted to see that the good cooperation between the Norwegian oil companies and Murmansk Oblast is strengthened. The Norwegian government actively supports cooperation in northwest Russia and the sharing of the Norwegian experience from developing oil and gas at the Norwegian shelf.”