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Rosneft started geological exploration in the Barents and Pechora sea

30 June 2014

Rosneft has started field works at five license blocks of the Barents and Pechora Seas: West Prinovozemelsky, located in the North-Eastern part of the Barents sea near the Novaya Zemlya archipelago, Perseevsky, located in the North-Western part of the Barents sea, and at the South Russky, South Prinovozemelsky and West Matveevsky license blocks, located in the Pechora Sea.

The following explorations will be conducted at these blocks:

  • West Prinovozemelsky - 3D seismic exploration with a volume of 2800 sq. km
  • Perseevsky - 2D seismic exploration with a volume of 6500 sq. km
  • South Prinovozemelsky - 2D seismic exploration with a volume of 2000 sq. km
  • West Matveevsky - 2D seismic exploration with a volume of 2000 sq. km

Seismic work will be performed by a specialized research vessel simultaneously with the shipboard gravi magnetometric survey. All work will be performed in three seismic parties.

The seismic survey is a reliable method of exploration of the geological structure of the subsurface and because of high resolution allows establishing a geological model of the studied areas with a high accuracy, increasing the probability of correct assessment of their oil and gas potential.

In addition, complex engineering surveys with the purpose of obtaining information about engineering-geological and engineering-ecological conditions of the sites for two projectable outposts is planned. Drilling is planned for 2016 and 2017.

Rosneft carries out the Geological Exploration Program in the Barents and Pechora seas in strict accordance with the requirements of environmental legislation of the Russian Federation and license agreements. At seismic surveys’ and integrated engineering surveys’ run-time the Program of Ecological Monitoring and Production Control will be implemented. Previously public discussions were conducted; all necessary permissions and approvals of the state bodies were obtained, compensation measures of the potential damage were developed.

Organization of geological surveys on the Barents and Pechora seas shelf is carried out by specialized subsidiary of Rosneft LLC "RN-Shelf-Arctic".

Notes for Editors:

Recoverable resources of West Prinovozemelsky block, according to Rosneft’s estimation: oil and gas condensate - 1434 million tons, gas - 1893 billion cub. m.

Recoverable resources of Perseevsky block, according to Rosneft’s estimation: oil and gas condensate - 85 million tons, gas - 92 billion cub. m.

Recoverable resources of South Russky block, according to Rosneft’s estimation: oil and gas condensate - 270 million tons, gas – 64,1 billion cub. m.

Recoverable resources of South Prinovozemelsky block, according to Rosneft’s estimation: oil and gas condensate – 76,8 million tons, gas – 30,7 billion cub. m.

Recoverable resources of West Matveevsky block, according to Rosneft’s estimation: oil - 97 million tons.

Rosneft
Information Division,
June 30, 2014