Norway, Russia to Sign Arctic Border Treaty

After more than four decades of negotiations, Norway and Russia have agreed to a final definition of their Arctic maritime border and will sign a treaty next week.

The long disputed territory covered 175,000 square km 67(,600 sq miles), mainly in the Barents Sea between proven petroleum reserves on the Russian and Norwegian sides.

In April, Stoltenberg and Russian President Dmitry Medvedev signed an initial agreement on the border, paving the way to open the potentially oil and gas rich region to offshore exploration.

The signing of the treaty is set to take place September 15.