Norway's Statoil may join Russian Arctic shelf projects

Norwegian energy company Statoil may participate in new hydrocarbon development projects in Russian Arctic shelf, Russian Prime Minister and President-elect Vladimir Putin said on Friday, RIA Novosti reports.

"I think we can come to agreement about joint work in the country's north ... I hope projects and decisions that will allow us to move forward will be found at corporate and state levels," Putin told Statoil President & Chief Executive Officer Helge Lund during a meeting.

"Decisions made at the political level must be correspondingly implemented at the commercial level," Putin said.