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Updated Wednesday, September 8, 2010 10:51 pm TWN, OSLO, Reuters

Norway, Russia to sign final treaty delineating Arctic maritime border

Norway and Russia have agreed to a final delineation of their Arctic maritime border and will sign a treaty next week, Norwegian Prime Minister Jens Stoltenberg said on Monday. In April, Stoltenberg and Russian President Dmitry Medvedev signed an initial agreement on the border after four decades of negotiations, paving the way to open the potentially oil- and gas-rich region for offshore exploration.

“There is agreement on exactly where the boundary line should be and on cooperation in the region, including on energy. This is what we shall sign and make public next week,” Stoltenberg told Norwegian state broadcaster NRK.

“That we have in place an agreement, means we can open up for business in this area,” Stoltenberg added.

NRK said the signing ceremony would take place on Sept. 15. The border deal gives Norway a chance to extend its oil boom as North Sea reserves are depleted but Stoltenberg said it would be years before the region is opened up for oil and gas activities.

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