Gazprom Neft Starts Arctic Exploration

摘要

Despite Western sanctions and lower crude oil prices, Russia's Gazprom Neft is moving ahead with development of the country's vast offshore reserves. The oil arm of state Gazprom said Wednesday that it started exploration operations at the Severo-Vrangelevsky license area in the waters of the East Siberia and Chukchi Seas. The company will carry out gravitational and magnetic exploration work within the 117,000 square kilometer area, which should help it detect prospects for future development.