The Russian Ministry of Natural Resources has offered three Barents Sea licenses through the Krasnodar regional branch of state geological authority Rosmorgeoinfo.
Two blocks are being offered to foreign oil companies in partnerships with Russian companies, while the third is being offered only to Russian companies.
The three blocks lie in the Pechora Bay area of the Barents Sea off northern Russia (see map, this page). The two blocks open to western bidders are Block 1, called Kolokolmorsky, and Block 2, known as Pomorsky.
Potential
Kolokolmorsky covers 1,540 sq km and is undrilled, although Rosmorgeoinfo hypothesizes from existing seismic data that the block has potential reserves of 163 million bbl of oil and 1.06 tcf of gas.A Rosmorgeoinfo official told OGJ that bidders will be expected to commit to a minimum work program on the Kolokolmorsky block entailing the acquisition of 300 sq km of 3D seismic data and the drilling of two wells, each to a depth of more than 3,600 m.
Pomorsky covers 1,677 sq km and is thought to contain, based on existing seismic data and the results of one well drilled there, postulated reserves amounting to 264 million bbl of oil and 965 bcf of gas.
The official said the Pomorsky wildcat was a gas/condensate find, and that bidders will be required to commit to acquire at least 300 sq km of 3D seismic data and to drill at least two new wells to a more than 3,700 m each.
While details of Block 3, which is on offer only to Russian companies, have not been made generally available, the official said two wells were drilled on the block and that an oil discovery was reported.
Terms for the tender process will be presented in the town of Gelendzhik at the office of the Yuzhmorgeologiya branch of Rosmorgeoinfo on Mar. 15. Bids will be examined during June with a view to license awards on July 1.
Copyright 1999 Oil & Gas Journal. All Rights Reserved.
