Russian President Vladimir Putin talked on the telephone with Norwegian Prime Minister Jens Stoltenberg about Norway's potential participation in the massive Shtokman project in the Barents Sea, the Prime Minister's office said.
"I can confirm that. That information is correct," Prime Minister's office spokesperson Tor Aagaard Borgersen told Thomson Financial. He could not, however, add any further information.
The development is likely to heighten speculation over whether Norwegian producer Statoil - which becomes StatoilHydro on Oct 1 following its merger with Norsk Hydro's oil and gas operations -will join France's Total in helping develop the field.
Intense negotiations have been going on for months between Moscow and international energy majors over participation.
On Sept 19 a report in the Barents Observer quoted a senior Gazprom official as saying the Russian oil monopoly could later this month choose Statoil as a partner to exploit the Shtokman projectrents Sea. Statoil declined to comment on the report.
The Barents Observer said Gazprom would soon choose its third partner in Shtokman, quoting Yuri Komarov, the head of Gazprom subsidiary Sevmorneftegaz, who was visiting the Russian city of Murmansk.
Either Statoil or ConocoPhillips will be included in the project, the Barents Observer quoted Komarov as saying.
Gazprom, itself in need of foreign companies' cash and technology, has said on several occasions that it will invite other foreign companies and reduce its stake in the project to 51%.
French company Total in early July this year secured a 25% stake in the project. The next partner in Shtokman will get the remaining 24 pct, Komarov said.
Shtokman, located about 500 kilometers off the Russian and Norwegian coast in the remote Barents Sea, was found in the 1980s and is believed to contain reserves of over 3.7 trillion cubic meters of gas. Shtokman was originally supposed to be producing from 2003.
Statoil earlier this year said it is confident that development of Russia's mammoth Shtokman gas field will go ahead towards the end of the suggested 2012-2014 target timeframe, or possibly 2014-2015, downplaying European industry concerns that the project could get further delayed.
Analysts on Monday said the telephone conversation could be a significant new development.
"I would expect some decision now very soon. If not tomorrow then within weeks," said Enskilda analyst Arnstein Wigestrand.
"We are now in the last phase of choosing an additional partner or partners," said Wigestrand who added that Statoil has long been rated a favorite by the market to secure some form of participation.
"Putin either phoned to tell Norway that it had got participation or why it had not," said another analyst.
(AFX News)