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Statoil (STO -0.7%) announces its JV with Rosneft will drill six wells in the Russian Arctic. In...

Statoil (STO -0.7%) announces its JV with Rosneft will drill six wells in the Russian Arctic. In return for funding the exploration costs, Statoil will get a 33.3% share in the project; the companies had previously said the fields might need investment of $100B. STO also says it plans to jump into the nascent global "land grab" for shale resources.
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