Agencies-Gaza post
Russia makes massive oil discovery in Arctic
It’s one of the biggest recent discoveries on the Russian shelf, says energy giant Rosneft
Russian energy giant Rosneft has announced the discovery of a vast oil deposit in the Pechora Sea, estimated to contain 82 million tons of oil.
The field was discovered thanks to a drilling campaign in the Medynsko-Varandeysky area. “During the tests, a free flow of oil was achieved with a maximum flow rate of 220 cubic meters per day”, The company’s statement was read on Wednesday, noting that the “Oil is light, low in sulfur, low in viscosity.”
Rosneft noted that exploration work in the waters of the Pechora Sea proved this “significant oil potential of Timan-Pechora province on the shelf and became the basis for continued exploration and development of the region.”
The company reportedly controls a total of 28 offshore licenses in the Arctic, eight of them in the Pechora Sea.
