Rosneft nets new block near Sakhalin Island

摘要

ROSNEFT has won an exploration and development licence for an offshore block near Sakhalin Island in Russia's far east, following its earlier decision to withdraw from legacy onshore projects in the area. According to a recent governmental resolution published by authorities, the Natural Resources & Environment Ministry has been instructed to issue the licence for the North Sakhalinsky block to the oil producer without holding any tender. The block lies next to the shoreline in the upper northern part of the island near the Shmidta Peninsula and is believed to contain predominantly gas resources. According to the ministry, possible in-place resources of the shallow-water tract are estimated at about 500 billion cubic metres of gas and about 450 million barrels of oil and condensate. The location of the asset will provide Rosnef t with an option to tap into the block from shore using extended reach deviated wells, with two of the world's largest superheavy rigs available from the ExxonMobil-led Sakhalin 1 consortium, in which Rosneft holds a 20% interest.