Royal Dutch Shell PLC and Gazprom neft to Jointly Develop Shelf of Chukchi and Pechora Seas-Interfax
Interfax reported that Royal Dutch Shell PLC (Shell) and Gazprom might jointly develop two sections on the shelf of the Chukchi and Pechora Seas. The terms will be discussed in detail after the agreement is signed. As reported, Shell and Gazprom subsidiary Gazprom neft are to sign a cooperation agreement on the development of shelf blocks in the Russian Arctic during Russian President Vladimir Putin's visit to the Netherlands. Gazprom has not yet received the licenses for these sections, but the Russian Federal Subsurface Resources Agency (Rosnedra) is expected to issue them by May 1, 2013.
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