Rosneft explores more Arctic waters

Despite low oil price and market uncertainties, Rosneft says it conducted 35,000 kilometers of 2D seismic mapping in 10 of its Arctic license areas.

In addition, another 5,100 square kilometers of 3D mapping was conducted in four licenses. That is respectively 2.4 and 2.5 times more than required by the license agreements, according to a press release.

The company also conducted 87,000 kilometer of so-called aerial gravitational survey in its Khatanga and East-Siberian 1 license areas.

Among the license areas explored is the Albanovsky, located south of the Franz Josef Land where mapping was conducted in the period April-July.

Rosneft controls a total of 55 licenses on the Russian continental shelf, of which an overwhelming share is located in the Arctic. The company estimates the resource potential of the licenses to 43 billion tons of oil equivalents.

In the course of 2016, the company conducted no well drilling in the Arctic. However, in a joint venture with Statoil, two wells were drilled in the Sea of Okhotsk. In 2017, the company has indicated that it will drill a well in the Khatanga area, off the coast of Taymyr.