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Rosneft and Statoil sign Arctic exploration deal

  • Russian oil giant Rosneft and Norway’s Statoil have signed a deal to explore the sea around the Arctic.

    This is the third Arctic exploration agreement that Rosneft has signed in the past month, after deals with Italy’s Eni and American giant Exxon Mobil.

    The Norwegian state-held firm will own a third of the joint venture that will explore Rosneft’s fields in the Barents Sea.

    Media reports suggest the deal is valued at $2.5 billion.