Gazprom Neft gains two further licenses for exploration on the Arctic Shelf
Gazprom Neft gains two further licenses for exploration on the Arctic Shelf
ST. PETERSBURG, Russia -- Gazpromneft Sakhalin, a subsidiary of Gazprom Neft, has been awarded subsoil-use rights to two license blocks in the Russian Arctic -- the Severo-Zapadniy (North East) block, located on the Pechora Sea shelf, and the Heysovskiy block, located on the continental shelf of the Barents Sea.
The company has begun geological and geophysical analysis of currently available information in order to construct a geological model of the region, to identify the most promising structures within these blocks, and to develop a program for further exploration and prospecting activities.
The Severo-Zapadniy block is located in the Pechora Sea, relatively close to Gazprom Neft’s other Arctic-Shelf assets, the Dolginskoye and Prirazlomnoye fields. The sea around this block extends to a depth of approximately 200 m. A total 11,500 km of 2D seismic operations have thus far been undertaken on the block, with data obtained to a depth of 1.17 linear km for each sq km surveyed. The block is 8,860 sq km in extent, with D1 reserves (Russian classification) estimated at more than 105 million tonnes of oil and gas condensate, together with 60 Bcm of gas.
The Heysovskiy block is located in the northern part of the Barents Sea, west of the Novaya Zemlya archipelago, about 1,000 km from the mainland. The block is 83,600 sq km in extent, with the sea surrounding it extending to depths of between 200 and 500 m. The region is characterized by extreme environmental and climatic conditions. Data on the block is currently limited, with only 8,300 km of 2D seismic having been conducted to date, with data obtained to a depth of 0.1 linear km for each sq km surveyed. While commercial oil and gas reserves are, as yet, unproven, the volume of D2 reserves (Russian classification) is estimated at 140 million tonnes of oil and gas condensate, as well as 2 Tcm of gas.
Gazprom Neft CEO Alexander Dyukov commented, “The Arctic remains a strategic priority for our company. Thus far, Arctic territory has remained under-researched, although we are, step by step, progressing further every year. Gazprom Neft has continued geological prospecting at the Dolginskoye field throughout 2014, with the first new Arctic oil (ARCO) being shipped from the Prirazlomnoye field, Pechora Sea, in April. The experience we have gained in developing these assets will allow us -- safely and effectively -- to open up the natural resources hidden in the Russian Arctic.”
