BP plc (London, England) and the state-owned oil company Rosneft (Moscow, Russia) announced in January that they have agreed to a strategic global and Arctic alliance. The two companies have agreed to explore and develop three license blocks—EPNZ 1, 2, 3—on the Russian Arctic continental shelf. These licences were awarded to Rosneft in 2010 and cover approximately 125,000 square kilometers in a prospective area of the South Kara Sea.
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