Russia offers three Barents Sea blocks

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 pote...

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