Russia makes massive oil discovery in the Arctic

Source: https://alethonews.com/2022/07/04/russia-makes-massive-oil-discovery-in-the-arctic/
Published: Jul 4, 2022
Author: Staff
Post Date: 2022-07-04 09:45:19 by Horse
Views: 440

Russian energy major Rosneft has announced the discovery of a huge oil deposit in the Pechora Sea containing an estimated 82 million tons of oil.

The field was discovered thanks to a drilling campaign in the Medynsko-Varandeysky area. “During the tests, a free flow of oil was obtained with a maximum flow rate of 220 cubic meters a day,” the company’s statement read on Wednesday, noting that the “oil is light, low-sulfur, low viscosity.”

Rosneft noted that the exploration works in the waters of the Pechora Sea proved the “significant oil potential of the Timan-Pechora province on the shelf and became the basis for continuing the study and development of the region.”

The company reportedly controls a total of 28 offshore licenses in the Arctic, eight of them in the Pechora Sea.

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#1: Pinguinite    To: Horse (#0)

Not sure how huge that is. That's only enough oil to power the world for about 2 weeks, if my calcs are correct.

Pinguinite posted on 2022-07-04 10:18:50   Reply   Private Reply

#2: Horse    To: Pinguinite (#1)

The total from the Pechora Sea should be significant. But it will not be cheap to drill and transport.

Horse posted on 2022-07-04 14:54:49   Reply   Private Reply

#3: titorite    To: Horse (#0)

its a good excuse to drill for crude and monitor the region.

titorite posted on 2022-07-04 15:43:03   Reply   Private Reply