Rosneft Obtains Licenses For Three Barents Sea Blocks

Rosneft has obtained licenses for geological survey, exploration and production of oil and gas at three blocks of federal significance on the Barents Sea shelf. The blocks are Tsentralno-Barentsevsky, Fedynsky and Perseevsky.

Estimated total resources at the blocks stand at 3.3 billion tonnes of crude oil and gas condensate and up to 2,800 bcm of gas.

Exploration of the blocks envisages 11,000 linear kilometres of 2D seismic studies, 3D seismic studies covering 3.5 square kilometres and the drilling of five wildcat wells.