Active Arctic offshore drilling to start after 2019 — Russia’s Energy Ministry

Business & Economy April 23, 14:32

Active offshore drilling in the Arctic will be resumed after 2019

MOSCOW, April 23. /TASS/. Active offshore drilling in the Arctic will be resumed after 2019, Russia’s Deputy Minister Kirill Molodtsov said in an interview with the Oil and Gas Vertical magazine, adding that the main 3D seismic works will be completed before 2020.

"Subsoil users plan to start active drilling after 2019, whereas 3D seismic works on most promising fields are planned to be finalized before 2020," he said.

According to deputy minister, energy price change, which caused an outflow of investment from expensive projects, was the main contributor to adjustment of Arctic projects’ implementation periods.

"It had a greater effect than financial and technological restrictions imposed by the US and EU," he said.

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