Gulf Oil and Gas accountACCOUNT

Russian, French PMs Pledge Support for Shtokman

Source: Reuters 11/18/2011, Location: Asia

The prime ministers of Russia and France lent political backing to an investment decision which would bring to life one of the world's biggest gas projects, the Shtokman field in the Barents Sea, after a French plea for tax breaks.

The Shtokman project is led by Russian gas export monopoly Gazprom with participation of France's Total and Norway's Statoil.

"The sides support cooperation between Gazprom and Total on the Shtokman gas and condensate field and underlined the need to make an investment decision by the end of the year," the protocol of a meeting chaired by Russia's Vladimir Putin and France's Francois Fillon said.

The partners must take a final investment decision by the end of the year to decide the fate of the 3.9 trillion cubic metre offshore gas field.

Statoil's CEO Helge Lund has said repeatedly that for the decision to be taken, the tax regime must be set.

Total CEO Christophe de Margerie joked at an oil conference earlier this month that he would appreciate a phone call from anyone who had heard anything about the Shtokman tax terms.

"The French side suggests that the high cost of developing (Shtokman) requires changes to tax conditions, including, in part, exemptions from extraction and export levies," the protocol said.

Oil & Gas Companies News in Russia >>

Azerbaijan >>  8/19/2019 - Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of Azerbaijan (SOCAR), has secured an Engineering and Technical Services ...
India >>  8/19/2019 - INTECSEA Inc, a wholly owned subsidiary of Worley, has been awarded a project management consultancy (“PMC”) contract by Reliance Industries Limited (...

China >>  8/12/2019 - China based offshore and subsea solutions company, COOEC Offshore, has formed an alliance with international oilfield services company, Expro. The for...
India >>  8/6/2019 - BP and Reliance Industries Limited (RIL) have agreed to form a new joint venture that will include a retail service station network and aviation fuels...

Russia >>  8/2/2019 - Saipem has reached an agreement with Technip France and NIPIgaspererabotka to participate in the Joint Venture for the realization of the Arctic LNG 2...
China >>  7/29/2019 - TechnipFMC celebrated the first steel cut of the manifolds and subsea structures for CNOOC’s Liuhua 16-2 Oilfields Development Project recently. The m...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 |

Oil & Gas Projects in Russia >>

More News

Related Links

AZ BD BN CN GE HK ID IN IR JP KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.