HUGE BOOST TO RUSSIAN OIL AND GAS RESERVES IN ARCTIC KARA SEA


17/12/2020




Robert HARNEIS -TDO- (FRANCE)- Russian energy giant Rosneft has announced the discovery of a “unique” gas deposit in the Kara Sea containing an estimated 514 billion cubic meters of natural gas.

The company says the discovery could establish a new cluster for oil and gas production in the area.

The field, which has been named after Soviet Marshal Konstantin Rokossovsky, is Rosneft’s third discovery in the Arctic. It is part of the company’s drilling campaign to develop the region’s oil and gas potential.

The project was inaugurated by President Vladimir Putin in 2014. It has resulted in the discovery of one of the world’s largest oil and gas fields, the Pobeda field. Its total recoverable reserves stand at some 130 million tons of oil and 422 billion cubic meters of gas. The field was discovered as the result of the drilling of the northernmost well in the world – the Universitetskaya-1 well.

The second discovered field, with an estimated 800 billion cubic meters of gas deposits, was named after Marshal Georgy Zhukov.

Rosneft has this summer also explored the far northern parts of the Kara Sea. For several weeks, drilling ship Bavenit engaged in a scientific program west of the archipelago of Severnaya Zemlya. It was the first time ever that drilling in these far northern shallow waters had been conducted, according to the state oil company.

Overall, more than 30 “prospective structures” were identified in the three areas of the Kara Sea, according to Rosneft. The company has compared the discoveries in size to the Gulf of Mexico and Saudi Arabia.

The Russian government hopes that the discoveries will boost the traffic on the Northern Artic Corridor that President Putin aims to see at 80 million tons by 2024. It is planning a fleet of 16 new search and rescue vessels by 2025 and has reportedly allocated 38.7 billion rubles for its construction in the budget period 2020-2024. The Minister of Transport has commented that this investment for the viability of the arctic route.

Exploration has been assisted by the record warm summers in the arctic in recent years.


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