Gazprom, Russia’s state-owned oil and gas company, announced yesterday that it needs help developing the world’s largest offshore natural gas field. It is reputedly close to finalizing a deal that would bring Norwegian, French and American companies in to help drill the Shtokman field -- a 540-square-mile field with up to 3.2 trillion cubic meters of gas off the Kola Peninsula.
Just last October, Gazprom said it is unwilling to share the field. But then the bill arrived. Recent forecasts suggest it will cost $30 billion to drill the site. The company apparently lacks the wherewithal to pull it off. ConocoPhillips, Chevron, Total, Statoil and Norsk Hydro are all rumored to be a part of the new arrangement.
Just last October, Gazprom said it is unwilling to share the field. But then the bill arrived. Recent forecasts suggest it will cost $30 billion to drill the site. The company apparently lacks the wherewithal to pull it off. ConocoPhillips, Chevron, Total, Statoil and Norsk Hydro are all rumored to be a part of the new arrangement.
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