Oil Majors Expand Far North Exploration Projects

Press Release
Thursday, February 14, 2013

Rosneft and ExxonMobil agree to collaborate in the search for offshore energy in the Russian Arctic & Far East,  and Alaska.

The two companies have agreed to expand their cooperation under their 2011 Strategic Cooperation Agreement to include an additional approximately 600,000 square kilometers (150 million acres) of exploration acreage in the Russian Arctic and potential participation by Rosneft (or its affiliate) in the Point Thomson project in Alaska. They have also agreed to conduct a joint study on a potential LNG project in the Russian Far East.

The agreements, which include plans to explore seven new blocks in the Chukchi Sea, Laptev Sea and Kara Sea, were signed by Igor Sechin, president of Rosneft, and Stephen Greenlee, president of ExxonMobil Exploration Company, in the presence of Russian President Vladimir Putin.
The license blocks include Severo-Vrangelevsky-1, Severo-Vrangelevsky-2 and Yuzhno-Chukotsky blocks in Chukchi Sea, Ust’ Oleneksky, Ust’ Lensky and Anisinsko Novosibirsky blocks in Laptev Sea and Severo Karsky block in Kara Sea, which are among the most promising and least explored offshore areas globally.

A separate Heads of Agreement was signed providing Rosneft (or its affiliate) an opportunity to acquire a 25 percent interest in the Point Thomson Unit, which covers development of a remote natural gas and condensate field on Alaska’s North Slope. It is estimated that Point Thomson contains approximately 25 percent of the known gas resource base in Alaska’s North Slope.

Rosneft and ExxonMobil also executed a Memorandum of Understanding to jointly study the economic viability of an LNG development in the Russian Far East, including the possible construction of an LNG facility. The companies will form a joint working group, which is expected to commence work in the coming weeks to study the viability of an LNG project using available natural gas resources.

Commenting on the agreements signed, Igor Sechin said, “The agreements signed today bring the already unprecedented scale of the Rosneft and ExxonMobil partnership up to a completely new level. The acreage in the Russian Arctic subject to geological exploration and subsequent development increased nearly six-fold. That means the enormous resource potential of Russian Arctic offshore fields will be explored and developed in the most efficient manner with the application of cutting-edge technologies and expertise of our strategic partner, ExxonMobil, and using state-of-the-art environmental protection systems. Participation in the Point Thomson project will increase Rosneft’s access to the latest gas and condensate field development technologies used in harsh climatic conditions.”

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

AWO Authorizes ClassNK to Perform RCP Audits

The American Waterways Operators (AWO) and ClassNK have signed an agreement under which ClassNK will be authorized to conduct audits of AWO's Responsible Carrier Program,

Radio Holland Wins Contracts for Canadian Coast Guard Vessels

Radio Holland Canada has won two major contracts to support the Canadian Coast Guard. Public Works and Government Services Canada, which is responsible for government procurement,

Young Brothers Orders Four New Tugs from Conrad

Young Brothers, Limited, Hawai‘i’s largest inter-island cargo service provider, and Conrad Shipyard, signed a contract to build four new tugs, a nearly $80 million

Arctic Operations

Advanced MacGregor Technology for Polar Research Ship

MacGregor, part of Cargotec, has won an order to supply MacGregor offshore cranes and a Triplex handling system for a 14,300gt polar research vessel being built

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

Ocean Cleanup Prototype Set for a Test Run

The first ocean cleanup system ever tested at sea will soon be deployed for trials 23 kilometers (12 NM) off the Dutch coast. The goal of the test is to see how

Offshore Energy

Offshore Oil Oscillations In West Africa

Global excess oil supply still looks likely to average 0.5m bpd in 2016 – sufficient, it would seem, to stop oil prices rising much above $50/bbl and therefore

India’s Potential in Offshore Wind Power

The Global Wind Energy Council (GWEC) launched a new report: “Supply Chain, Port Infrastructure and Logistics Study” for offshore wind development in the states of Gujarat and Tamil Nadu in India.

Lloyd's Register Extends Drilling Rig Integrity Support

Exploration begins by BHP Billiton using the Deepwater Invictus rig and supported by Lloyd’s Register’s rig integrity team. Lloyd’s Register (LR) announced it

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0895 sec (11 req/sec)