Rosneft Resumes Drilling in the Kara Sea, Terminated with the Departure of Exxon

Rosneft has identified two more blocks for drilling prospecting and appraisal wells in the areas of East Prinovozemelsky-1 and East Prinovozemelsky- 2 in the Kara Sea. The head of the Ministry of Natural Resources, Sergei Donskoy, has already stated in this connection that the Ministry of Natural Resources will assist the state company in the works in these fields.


In particular, as indicated in the materials of Rosneft, in the East Prinovozemelsky-1, drilling of wells is planned on the structure of Vikulovskaya, in the East Prinovozemelsky-2 – on the Ragozinskaya structure (the western dome).

Recall that earlier on these sites, Rosneft worked with ExxonMobil. In September 2014, the company, based on the drilling of the Universitetskaya-1 well, opened a new Pobeda deposit in the license area of ​​East Prinovozemelsky-


1. The State Commission approved the reserves of the fishery in the amount of 130 million tons of oil and 499 billion cubic meters of gas in categories C1 + C2.


However, after the administration of the US sectoral sanctions against Russia, Exxon Mobil’s participation in the development of Victory is excluded. Washington actually banned American companies from working on Russian offshore oil fields. As a result, Exxon Mobil was forced to suspend the implementation of all projects under the strategic partnership agreement with Rosneft, including drilling in the Kara Sea.


Nevertheless, the Russian state-owned company decided to continue work. After all, according to the research of the Arctic University of Tromsø (Norway), climate change will soon start to positively influence the industrial production of hydrocarbons in the Arctic region.


Previously, the most economically profitable area for oil and gas extraction was the northern part of the Norwegian Sea and the western part of the Barents Sea. Then, in 2015, the retreat of the ice made the production in the southern, mostly Russian sector of the Barents Sea more profitable.

Drilling in Kara Sea

And in the medium term, thanks to the melting of ice, the extraction costs in the east and north of the Barents Sea, as well as in the western and northern parts of the Kara Sea, on which Rosneft stakes, will decrease.


Source: Maritime News of Russia