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Jan 15 2011

What could possibly go wrong?

BP Forms Partnership To Explore In Russia

By JULIA WERDIGIER, The New York Times

Published: January 14, 2011

The British oil giant BP agreed on Friday to a partnership with Rosneft, a Russian company, forming an alliance to explore the Russian Arctic.



The two companies would explore three license blocks on the Russian Arctic continental shelf that were awarded to Rosneft last year and span about 50,000 square miles.



“This acquisition will almost certainly complicate the politics of levying and collecting damages from BP following their Gulf of Mexico oil spill,” Mr. Markey said.

As part of the agreement, Rosneft and BP will set up an Arctic technology center in Russia “to develop technologies and engineering practices for the safe extraction of hydrocarbon resources from the Arctic shelf,” the companies said in a joint statement.

Presidential Oil Spill Commission Final Report

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