The southern part of the formerly disputed area between Norway and Russia has been licensed to a consortium of Rosneft and Eni. The companies plan seismic surveys for later this year. This area includes the large Fedyn High structure.
The northern part of the formerly disputed area, named Perseyevsky, has been licensed to a consortium of Rosneft and Statoil.
The agreement also includes acreage in the Okhotsk Sea, which will be investigated first. Seismic investigations in the Perseyevsky area will take place later.
According to the border treaty between Norway and Russia, any possible border crossing structures will be subject to joint development between the two countries.