Foreign Ministers Jonas Gahr Støre and Sergei Lavrov on Wednesday signed the Treaty between Norway and Russia concerning the Maritime Delimitation and Cooperation in the Barents Sea and the Arctic Ocean.
Prime Minister Jens Stoltenberg and President Dmitry Medvedev also attended the signing ceremony in the Russian city of Murmansk.
“I am glad that we are able to sign the agreement at such an early date. This will be a historic occasion, after many years of negotiations culminating in agreement on the most important outstanding issue between Norway and Russia,” said Prime Minister Stoltenberg.
The agreement establishes the maritime boundary between Norway and Russia in the Barents Sea and the Arctic Ocean. It also includes provisions on the continuation of fisheries cooperation and cooperation on the management of any oil and gas deposits that extend across the delimitation line.
Prime Minister Stoltenberg believes the signing of the treaty may start a race for oil in the North, but declines to indicate how quickly Norwegian exploration will begin in the area.
After the treaty has been signed, it will be submitted to the Norwegian Storting and Russian Duma for ratification.
(NRK/Press release)
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