Statoil, Rosneft to explore Barents, Okhotsk, land blocks

By OGJ editors

Statoil and Rosneft will establish Arctic joint ventures on four blocks in the central Russian Barents Sea and the Sea of Okhotsk offshore Russia and Norway.

The partners will jointly explore the Perseevsky license in the Russian part of the Central Barents Sea and the Kashevarovsky, Lisyansky, and Magadan-1 licenses in the Sea of Okhotsk north of Sakhalin Island. The four frontier licenses total more than 100,000 sq km or about 200 Norwegian Continental Shelf blocks.

Statoil will hold 33.33% in each of the joint ventures. Statoil will fund the initial exploration necessary to determine the commercial value of the four licenses. The cooperation agreement also provides Rosneft with an opportunity to acquire interests in selected Statoil exploration licenses and assets in the North Sea and the Norwegian Barents Sea.

The companies will also conduct joint technical studies on two onshore Russian assets. At nonproducing North Komsomolskoye field in Western Siberia, Statoil can contribute with experience and competence from both Brazil and the NCS. At the shale oil play in the Stavropol area in southwestern Russia, Statoil will apply its experience with unconventional US reservoirs to benefit a proven, unappraised play.

The companies also agreed on a program to exchange and further develop technology and competence relevant for Arctic offshore and unconventional exploration and production.

Statoil noted that all of the licenses offer access to large areas of potentially prospective frontier acreage with a phased exploration work program in each license. At the outset, the overall license obligations are comprised of 2D seismic and six exploratory wells for the four frontier exploration blocks. In case of success more wells will be drilled.

The Perseevsky license covers 23,000 sq km in 150-250 m of water 350 km from Barents Island. The work program calls for 5,500 line-km of 2D seismic to be shot by 2016, 1,000 sq km of 3D seismic to be shot by 2018, and a first exploratory well to be drilled by 2020.

The three Sea of Okhotsk licenses total 79,000 sq km in 70-350 m of water where the ice-free period is from July to December. On Kashevarovsky 2,000 line-km of 2D is to be shot from 2014 to 2016 and an exploratory well drilled by 2019. On Lisyansky 2,000 line-km of 2D is to be shot from 2014 to 2018 and a well drilled by 2017. On Magadan-1 1,000 line-km of 2D is to be shot by 2014 and a well drilled by 2016.

Related Articles

Horn Petroleum to reduce Puntland exploration program

02/13/2015 Horn Petroleum Corp., Vancouver, BC, will reduce its presence in Bosaso, Puntland (Somalia), and will “refrain from any operational activity and as...

Groups object to White River National Forest draft leasing decision

02/12/2015 The Western Energy Alliance, West Slope Colorado Oil & Gas Association, and Public Lands Advocacy jointly filed a formal objection to the US Fo...

InterOil wins arbitration over rights dispute with Oil Search

02/11/2015 The International Chamber of Commerce arbitration panel in London has found in favor of InterOil Corp. in its battle with Oil Search Ltd. over pree...

Beach, Drillsearch make wet gas discovery in Cooper basin

02/11/2015 A joint venture of Beach Energy Ltd. and Drillsearch Energy Ltd. has made a wet gas discovery with its Ralgnal-1 wildcat well in retention lease 13...

MEO, Eni to exchange sections of Timor Sea permit

02/10/2015 MEO Australia Ltd., Melbourne, and Eni SPA—MEO’s joint-venture partner in the NT/P68 permit in the Timor Sea—have decided to split the permit betwe...

CNOOC signs two South China Sea PSCs with SK Innovation

02/10/2015 China National Offshore Oil Corp. Ltd. signed two production-sharing contracts with SK Innovation Co. Ltd., Seoul, for two blocks in the Pearl Rive...

Recent audit shows Trinidad and Tobago with 500 million bbl of 3P reserves

02/10/2015 An audit of Trinidad and Tobago’s oil and condensate reserves shows that the Caribbean twin-island nation has 508.4 million bbl of proved, probable...

Association presidents want more access in next 5-year OCS plan

02/09/2015 The presidents of three major US oil and gas trade associations urged the US Bureau of Ocean Energy Management to keep more of the US Outer Contine...

Statoil well appraises discovery near Oseberg in North Sea

02/09/2015 The Norwegian Petroleum Directorate reported results from an appraisal well drilled in the North Sea by Statoil ASA, operator of production license...
White Papers

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by

The impact of aging infrastructure in process manufacturing industries

Process manufacturing companies in the oil and gas, utilities, chemicals and natural resource industri...
Sponsored by

What is System Level Thermo-Fluid Analysis?

This paper will explain some of the fundamentals of System Level Thermo-Fluid Analysis and demonstrate...

Accurate Thermo-Fluid Simulation in Real Time Environments

The crux of any task undertaken in System Level Thermo-Fluid Analysis is striking a balance between ti...

6 ways for Energy, Chemical and Oil and Gas Companies to Avert the Impending Workforce Crisis

As many as half of the skilled workers in energy, chemical and oil & gas industries are quickly he...
Sponsored by
Available Webcasts

On Demand

Global LNG: Adjusting to New Realities

Fri, Mar 20, 2015

Oil & Gas Journal’s March 20, 2015, webcast will look at how global LNG trade will be affected over the next 12-24 months by falling crude oil prices and changing patterns and pressures of demand. Will US LNG production play a role in balancing markets? Or will it add to a growing global oversupply of LNG for markets remote from easier natural gas supply? Will new buyers with marginal credit, smaller requirements, or great need for flexibility begin to look attractive to suppliers? How will high-cost, mega-projects in Australia respond to new construction cost trends?

register:WEBCAST


US Midstream at a Crossroads

Fri, Mar 6, 2015

Oil & Gas Journal’s Mar. 6, 2015, webcast will focus on US midstream companies at an inflection point in their development in response to more than 6 years shale oil and gas production growth. Major infrastructure—gas plants, gathering systems, and takeaway pipelines—have been built. Major fractionation hubs have expanded. Given the radically changed pricing environment since mid-2014, where do processors go from here? What is the fate of large projects caught in mid-development? How to producers and processors cooperate to ensure a sustainable and profitable future? This event will serve to set the discussion table for the annual GPA Convention in San Antonio, Apr. 13-16, 2015.

This event is sponsored by Leidos Engineering.

register:WEBCAST


The Future of US Refining

Fri, Feb 6, 2015

Oil & Gas Journal’s Feb. 6, 2015, webcast will focus on the future of US refining as various forces this year conspire to pull the industry in different directions. Lower oil prices generally reduce feedstock costs, but they have also lowered refiners’ returns, as 2015 begins with refined products priced at lows not seen in years. If lower per-barrel crude prices dampen production of lighter crudes among shale plays, what will happen to refiners’ plans to export more barrels of lighter crudes? And as always, refiners will be affected by government regulations, particularly those that suppress demand, increase costs, or limit access to markets or supply.

register:WEBCAST


Oil & Gas Journal’s Forecast & Review/Worldwide Pipeline Construction 2015

Fri, Jan 30, 2015

The  Forecast & Review/Worldwide Pipeline Construction 2015 Webcast will address Oil & Gas Journal’s outlooks for the oil market and pipeline construction in a year of turbulence. Based on two annual special reports, the webcast will be presented by OGJ Editor Bob Tippee and OGJ Managing Editor-Technology Chris Smith.
The Forecast & Review portion of the webcast will identify forces underlying the collapse in crude oil prices and assess prospects for changes essential to recovery—all in the context of geopolitical pressures buffeting the market.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected