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Rosneft, Statoil start drilling exploration well in the Sea of Okhotsk

June 02, 2016, 14:53 UTC+3

The distance from the well to the port of Magadan is about 420 km

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MOSCOW, June 2. /TASS/. The joint venture of Rosneft and Norway’s Statoil ASA initiated drilling of an exploration well in the Sea of Okhotsk, the Russian oil major said on Thursday.

Ulberikanskaya-1 well will be drilled on Lisyansky license area one year ahead of license commitments. The distance from the well to the port of Magadan is about 420 km.

The second well of Rosneft and Statoil project is scheduled for drilling in 2016 season in the Sea of Okhotsk.

"Implementation of offshore projects in exploration and production is among critical strategic tasks of the company, the input into the future of the whole oil and gas industry. Rosneft is the sole company continuing working on offshore greenfield projects despite a highly challenging international situation, in line with its license commitments. We are glad we started the key phase within the framework of long-term cooperation with our partner Statoil - exploration wells drilling in the Sea of Okhotsk," Chief Executive of Rosneft Igor Sechin said commenting on the drilling start.

Rosneft and Statoil signed an agreement on cooperation in joint development of Russian offshore areas in 2012.

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