Moscow prepares for Arctic drilling

May 7, 2014

Russia is taking a string of measures in its planning of Arctic offshore oil and gas projects. In seven tenders with a total cost frame of 893 million roubles (€18 millon), the country’s Ministry of Industry and Trade now offers leading Russian engineering and design companies contracts related to the development of several grand offshore projects.

Among the contracts is on the development of new oil spill clean-up technology, the design for a new nuclear-powered icebreaker, information technology for Northern Sea Route shipping and on the development of equipment of underwater drilling. The biggest contract is on the development concept for a floating oil and gas processing installation and has a cost frame of 245 million roubles (€4,9 million).

Copyright, Barents Observer, 2014