MOSCOW, June 20 (RIA Novosti) - Norway has allocated 4 million euros ($6.2 million) to dismantle Russia's decommissioned nuclear submarines in the northern Murmansk Region, Russia's Rosatom state nuclear corporation said on Friday.

A contract between the Nerpa shipyard and Ramboll Storvik AS was signed June 19 in the Norwegian consulate in Murmansk.

Single reactor compartments from decommissioned nuclear submarines will be stored in an onshore dry storage facility in Saida Bay not far from the shipyard. The project is designed to last a year.

Earlier Norway funded the dismantling of second-generation nuclear submarines at the Nerpa shipyard.

The Nerpa shipyard has been involved in projects with Ramboll Storvik since 2003 financed by the Norwegian Foreign Ministry, who allocated over $23 million. Three Victor-class subs have since been dismantled.