Russian President Vladimir Putin said that non-state oil companies should be able to develop offshore resource assets, but only if they don't then sell on their rights to foreign enterprises.
According to Russian law, only state-controlled Rosneft and Gazprom have the right to develop Arctic offshore deposits.
Last month four Russian companies, TNK-BP, LUKOIL , Surgutneftegaz and Bashneft asked Putin to free up access to the shelf resources.
Source: Reuters