Russian-Norwegian energy cooperation in the implementation of oil and gas projects at the present stage

Abstract

Subject. This article discusses the importance of cooperation between Russia and Norway for the development of the Russian oil and gas industry. Objectives. The article aims to analyze the results of cooperation between Russia and Norway in the field of oil and gas production for 2000–2022. Methods. For the study, we used content analysis, statistical analysis, and deduction. Results. The article finds that for the period from 2000 to 2021, cooperation between Russia and Norway in the field of natural resources extraction was positive, which is explained by the importance of the oil and gas industry for the economies of the two countries and the great prospects for the development of Arctic fields. Conclusions. In 2022, the imposition of sanctions against Russia caused the Norwegian companies' refusal to participate in joint projects in the energy sector. In the short and medium term, Norwegian investment in the Russian oil and gas industry should not be expected.