Arctic blocks 'in the bag' for Rosneft

Arctic haul: for Rosneft

Magnus Thor Hafsteinsson

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By Steve Marshall and news reports

 04 February 2013 13:55 GMT

State oil company cements domination of Russian sector of region with formal award of 12 licences

The Russian government is reported to have formally rubber-stamped the award to Rosneft of a raft of Arctic offshore licences to affirm the state-run oil company’s dominant position in the frontier region.

Rosneft, led by former energy czar Igor Sechin, has gained a total of 12 additional licences – five in the Barents Sea, three each in the Chukchi and Laptev seas, and one in the Kara Sea – after the signing of a decree for the awards by Prime Minister Dmitry Medvedev.

The Barents licences are Severo-Pomorsky-1, Yuzhno-Prinovozemelsky, Zapadno-Prinovozemelsky, Zapadno-Matveevsky and Russky,…

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