Russian energy giant OAO Gazprom's (GAZP.RS) oil arm and Royal Dutch Shell PLC (RDSA) may jointly develop two sections of Russia 's Arctic shelf in the Chukchi and Pechora Seas , Russian Natural Resources Minister Sergei Donskoi was quoted as saying Monday.

The agreement between Shell and OAO Gazprom Neft (SIBN.RS) is expected to be signed Monday.

Mr. Donskoi said the terms of the deal are likely to be the same as for other foreign firms that have partnered with state-controlled oil company OAO Rosneft (ROSN.RS), including Exxon Mobil Corp. (XOM), Interfax news agency reported.

Those deals see the foreign firms provide capital for initial exploration in exchange for one-third of eventual production.

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