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Rosneft receives license for exploration and production on Sea of Okhotsk shelf until 2046

June 07, 2016, 10:25 UTC+3

The terms of the license envisage 3D seismic exploration work and construction of exploration wells

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© Yuri Smityuk/TASS, archive

MOSCOW, June 7. /TASS/. Rosneft received license for exploration and production of hydrocarbons within Bogatinsky subsoil area located in the Sea of Okhotsk until May 30, 2046, the company said on Tuesday.

Under the terms of the license, within four years from the date of registration of the license Rosneft needs to perform 3D seismic exploration work for at least 100 sq. km, and to complete the construction of at least two exploration wells in nine years.

Rosneft and Statoil signed an agreement on cooperation in joint development of Russian offshore areas in 2012 in offshore fields in the Russian sections of the Barents Sea and Sea of Okhotsk. The agreement also covered Rosneft’s participation in the exploration of license blocks in the Norwegian part of the Barents Sea.

The agreement, signed by Rosneft President Eduard Khudaynatov and Statoil CEO Helge Lund, envisaged cooperation between the companies in setting up a joint venture to explore the Perseevsky license block in the Barents Sea and three blocks in the Sea of Okhotsk, namely Magadan 1, Lisyansky and Kashevarovsky.

It was reported earlier that Rosneft and Statoil ASA joint venture started drilling an exploratory well in the Sea of Okhotsk. Well Ulberikanskaya-1 will be drilled at the prospect of the same name in Lisiansky license area one year ahead of the license obligations. The distance from the port of Magadan to the well is about 420 km. The second well of Rosneft and Statoil project will be also drilled during the 2016 season within Magadan-1 section in the Sea of Okhotsk.

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