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Russia's Gazprom to Step Up Arctic Drilling

Under increasing pressure from competitors & the authorities, the Russian gas major is stepping up exploration & drilling in Arctic waters. A total of four wells were drilled and 3000 square km of 3D seismic mapping was conducted in the years 2011-2012 resulting in an increase in offshore reserves with more than 200 million tons of oil equivalents. The exploration was conducted in the waters surrounding the Yamal Peninsula…