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Russian Shelf Development Co

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November 27, 1992 | From Times Staff and Wire Reports
Arctic Oil Bid Won by Russian Consortium: Russian President Boris Yeltsin has awarded the rights to develop a major offshore oil and gas field in the Arctic to a Russian defense industry consortium, rejecting a bid by a Western group. The decree gave the politically influential Russian Shelf Development Co., known by its Russian acronym "Rosshelf," the right to explore and tap deposits off the Novaya Zemlya archipelago in the Barents Sea, Yeltsin's press office said.
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BUSINESS
November 27, 1992 | From Times Staff and Wire Reports
Arctic Oil Bid Won by Russian Consortium: Russian President Boris Yeltsin has awarded the rights to develop a major offshore oil and gas field in the Arctic to a Russian defense industry consortium, rejecting a bid by a Western group. The decree gave the politically influential Russian Shelf Development Co., known by its Russian acronym "Rosshelf," the right to explore and tap deposits off the Novaya Zemlya archipelago in the Barents Sea, Yeltsin's press office said.
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