Business opportunities in Russia’s Arctic

The need for specialist expertise in developing the Russian Arctic offshore will bring business opportunities for companies in the oil and gas industry, Anatoly Zolotukhin told Petroleum News April 30. International experience in Arctic operations will prove critical to success in Russia, he said.

People already working in regions such as Canada, Alaska and northeast Norway have experience working in the Arctic, Zolotukhin said. Several large service companies are already operating in Russia. “They’re doing a very important job for us,” he said.

And given the massive cost of Arctic oil and gas exploration and development there will likely be investment opportunities in Russia, Zolotukhin said.

—Alan Bailey