"Norway has been producing oil offshore since the 1970s and hardly needs help from relatively inexperienced Russia.
So presumably it’s for strategic reasons that Norway’s energy ministry decided this week to award Russian oil companies rights to explore on the Norwegian continental shelf for the first time. The two countries do after all share an offshore frontier.
Rosneft, the Russian state oil company, and Lukoil, the country’s biggest privately owned oil producer, were among 29 companies that won licenses in Norway’s latest bidding round. The results announced on Wednesday have opened up a large tract of the northern Barents Sea for exploration."
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