Lunda informed Miller about progress in the company's projects on the Norwegian continental shelf. The sides also highlighted new opportunities emerging in the wake of Gazprom's expansion into the oil sector.
Statoil is a vertically integrated diversified oil and gas company in which the state holds 76.3%. It is also the world's third crude producer and a major natural gas supplier in Europe.
On June 20 in Moscow, Gazprom, Statoil and another Norwegian company, Hydro, signed a memorandum on mutual understanding stipulating joint prospecting efforts in the Arctic region, the technological development of the process, a study on the impact of oil and gas production on the socio-economic development of the adjoining areas and the environment, exchange of personnel, and personnel training programs.
