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You are here: Home → Archive → 2009 → October → Weekly Edition 15th of October 2009 → Russian drive on Arctic oil

Russian drive on Arctic oil

by Martyn Wingrove, London — last modified Oct 15, 2009 03:04 PM

RUSSIA will require more than US$300bn in capital investment to develop all of its huge offshore oil and gas resources over the next 50 years, according to the nation’s deputy energy minister.

There are plans in Russia to build a new generation of offshore vessels, drilling rigs, tankers, gas carriers and platforms to enable the world’s largest nation to exploit the reserves it has in the Arctic and off its eastern shores....

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