Norway and Russia on Friday signed an agreement setting the Barents Sea Northeast Arctic cod quota at 993,000 metric tons for 2014 -- just 7,000 metric tons lower than this year's level.

The figures follow advice from the International Council for the Exploration of the Seas (ICES), which recommended the exact quota levels in preliminary advice it gave in June.

The total allowable catch (TAC) for Barents Sea cod will divided up between Norway and Russia along the same percentages as years prior.

Norway's