Russia, Norway sign Arctic border agreement

15th September 2010, Comments 0 comments

Russian and Norwegian leaders signed an accord Wednesday delineating the two countries' maritime border, ending a 40-year dispute over a region believed to contain vast oil and gas reserves.

The agreement was signed by Russian President Dmitry Medvedev and Norwegian Prime Minister Jens Stoltenberg during a televised ceremony in Russia's northern city of Murmansk, a Barents Sea port.

It will allow both Norway and Russia to chart the maritime depths of the ocean with the aim of discovering potential oil and natural gas.

Since 1970 Norway has been in dispute with first the Soviet Union and then Russia over a 176,000-square-kilometre (67,950-square-mile) maritime area straddling their economic zones in the Barents Sea and the Arctic Ocean.

© 2010 AFP

0 Comments To This Article