Shell, Gazprom Neft to sign Arctic cooperation deal
BY ALEXANDER KOLYANDR AND JAMES MARSON
MOSCOW -- Shell will sign a framework agreement to partner Gazprom Neft on projects on Russia' s Arctic shelf, a person familiar with the matter said, becoming the latest international major to seek access to potentially vast but hard-to-recover resources in the region.
The deal will be signed during a visit to the Netherlands by Russian President Vladimir Putin, the person said, without giving further details.
Shell is already a partner of Gazprom Neft' s parent company, Gazprom, on the Pacific Sakhalin-2 project, and is also working with Gazprom Neft on developing oil resources onshore.
Gazprom and Rosneft are the only firms allowed to lead projects on Russia' s Arctic shelf. Rosneft is partnering with Exxon Mobil, Eni and Statoil.
Shell' s attempts to explore the United States Arctic have been marred by problems. A spokeswoman for Shell didn' t immediately respond to a request for comment.
Dow Jones Newswires