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Rosneft, Statoil commit to Arctic environmental protection

28th November 2012

Rosneft and Statoil sign declaration for environmental protection of Russia’s Arctic Shelf

Rosneft, Statoil commit to Arctic environmental protection
“We intend to sign this declaration with all our partners before we launch any substantial activity in the Arctic” - Rosneft president

Oil majors and Arctic players Rosneft and Statoil have banded together for an initiative which aims to protect the region’s environment and curb the risks associated with drilling operations there.

President of state-owned Rosneft Igor Sechin and Statoil CEO Helge Lund on Friday signed a declaration for the protection of the environment and biodiversity for oil and gas exploration and development of the Russia’s Arctic Continental Shelf.

“The parties will seek to coordinate activities in order to preserve the biodiversity of the Arctic, including observing the principles and recommendations of the Convention on Biological Diversity and the standards set by IPIECA, the global oil and gas industry association for environmental and social issues,” Rosneft said in a press release.

The declaration also includes commitment to regularly monitor changes to the natural landscape and seas of the Arctic, as well as to international cooperation as part of the Arctic Environmental Protection Strategy (AEPS).

Rosneft president Igor Sechin said: “We intend to sign this declaration with all our partners before we launch any substantial activity in the Arctic to make sure everyone is governed by the same principles.”

Statoil CEO Helge Lund added: “We fully endorse Rosneft’s initiative. The purpose of the declaration reflects Statoil’s values and our commitment to safeguarding health, safety and the environment in our operations on a daily basis.”

The Arctic region holds between an estimated 22-25 per cent of the world’s undiscovered petroleum reserves. However, activists, environmental groups and politicians have stressed that drilling for oil there could have disastrous consequences due to the lack of technology and infrastructure to deal with a possible spill.