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Russia’s Rosneft may adjust Arctic exploration plan — official

In spite of the EU sanctions barring EU companies from participating in deep-sea drilling projects on the Russian shelf, the projects without deep drilling are still conducted, Rosneft says

© AP Photo/Rosneft press service

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Russia’s Rosneft to continue Arctic shelf work with Norway

MOSCOW, December 22. /TASS/. Russian oil major Rosneft does not rule out postponing drilling on the Arctic shelf where it is left with no partners, Nikolay Malyshev, deputy director of the shelf development department, said at a roundtable talk on Monday.

“We used to conduct all geological works ahead of the license schedule. Maybe, due to the deterioration of the situation, we will somehow adjust our work schedule now. Rosneft operates and will continue its operations in the Arctic,” Malyshev said.

According to Malyshev, in spite of the European sanctions barring EU companies from participating in deep-sea drilling projects on the Russian shelf, the projects without deep drilling are still conducted. Rosneft plans to start drilling in the Black Sea with Italy’s Eni in 2016-2017.

“We can solve all troubles. A problem arose (with Statoil) in a deep water area in the Okhotsk Sea, in a part of one of the fields. They asked (Norwegian authorities on possibility to prolong works in the deep sea) and they solved the issue. There is a case-per case approach each time,” Malyshev said.

Russia and Norway will continue cooperation in exploration of the Arctic shelf, Oleg Sochnev, Director of Rosneft’s department for ecological localization of equipment and technologies, said during the presentation. “We have not received signals that something will be halted,” he said.

In January 2015, one of Rosneft’s programs with Norway will be completed, but Sochnev believes, cooperation with Norway will develop further, he said.

Rosneft’s deposits in the Arctic are estimated at 38.3 billion tons of oil equivalent. The company will invest around $400 billion in its Arctic shelf program over 20 years.

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